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THQ officially tanks. Click this for dissapointment

Discussion in Gaming started by Taters, Jan 25, 2013

  1. Mar 12, 2008

    Today an employee letter went out to everyone at THQ, from Brian Farrell and Jason Rubin:

    January 23, 2013

    To All THQ Employees:

    We now have the answers we’ve been seeking through our financial restructuring and Chapter 11 case. While much will be written, here are the facts of the bids and auction that occurred:

    Yesterday morning, we received a competing bid for the operating business, along with Clearlake’s offer, and numerous offers for separate assets. During an auction process that lasted over 22 hours, the final conclusion was that the separate-asset bids would net more than a single buyer for the majority of the company. Shortly, we will, present the results to the U.S. Bankruptcy Court, which must concur with our assessment.

    The proposed sales of multiple assets is as follows :

    • Sega agreed to purchase Relic
    • Koch Media agreed to purchase Volition and Metro
    • Crytek agreed to purchase Homefront
    • Take 2 agreed purchase Evolve and
    • Ubisoft agreed to purchase Montreal and South Park
    We expect these sales to close this week.

    Some assets, including our publishing businesses and Vigil, along with some other intellectual properties are not included in the sale agreements. They will remain part of the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.

    What this means for employees

    We expect that most employees of the entities included in the sale will be offered employment by the new owners. However, we cannot say what these owners may intend, and there will likely be some positions that will not be needed under the new ownership. You should receive notice this week or early next week if the new owners intend to extend employment to you. Please note that the terms of your new employment, including pay and benefits, may be different from the current terms of your employment with THQ.

    If you are an employee of an entity that is not included in the sale, we regret that your position will end. A small number of our headquarters staff will continue to be employed by THQ beyond January 25 to assist with the transition. THQ has sufficient resources to pay these employees for work going forward, and we will be contacting these employees immediately to ensure their continued employment during this transition period. We are requesting the ability to offer certain severance pay to minimize disruption for employees of non-included entities as they determine the next steps in their careers.

    We know you will have many questions about this news. We’ll be meeting tomorrow when we return to talk through this announcement and to answer any questions you have. You will receive a benefits fact sheet and FAQs with answers to some questions that may be on your mind. Please review these materials closely.

    A personal note

    The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers. We are proud of what we have accomplished despite today’s outcome.It has been our privilege to work alongside the entire THQ team. While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership. We were hoping that the entire company would remain intact, but we expect to hear good news from each of the separate entities that will be operating as part of new organizations.

    For those THQ employees who are part of entities that are not included in the sale, we are confident that the talent you have displayed as part of THQ will be recognized as you take the next steps in your career.

    Thank you all for your dedication and for sharing your talent with the THQ team. We wish you the best of luck and hope you will keep in touch.


    Brian Farrell, Chief Executive Officer

    Jason Rubin, President

    Here’s what it means for games that were currently under development with THQ:

    • Company of Heroes 2 just went to SEGA. We’re not sure what this means for the team working on it yet.
    • Metro Last Light and Saints Row goes to Koch Media, parent company of Deep Silver, publishers of Dead Island
    • Homefront goes to Crytek
    • South Park: Stick of Truth goes to Ubisoft, as well as the THQ Montreal team
    • “Evolve” goes to Take 2
    Seeing an entire publishing company be dissolved is not something that happens very often in the gaming industry. THQ is a name with a lot of memories and nostalgia for a great many gamers.

    To Bobby, Sledge, and our other friends at THQ: Sorry guys Hang in there.
    This is very sad as THQ is one of my favorite companies, and made some of my favorite games. But seeing it torn apart like this and sold to the highest bidder is disheartening. See below.

    Metro Last Light and Saints Row goes to Koch Media, parent company of Deep Silver,
    publishers of Dead Island. :neutral: WHAT THE FUCK
    • Wizard! Wizard! x 1
    • Jul 8, 2012
      I saw that and I was sad. Good company indeed.

      Sent from my iPad using Tapatalk
    • Feb 14, 2012
      It's about money nobody gives a fuck what the gamer wants. The likelihood any of these projects are going to be released in the forms they were going to be released in is snowball chance in hell.
    • Aug 18, 2006
      Take two bought Evolve? Thought they were struggling. The GTA Series is the only thing that's been keeping them afloat.
    • Jan 11, 2012
      Bye Bye Metro Last Night :frown: Release was soo close :frown:
    • Mar 12, 2008
      Hopefully in doing this, it won't sink their ship as well.

      I just can't believe some of the companies taking hold of these titles. I guess i'm kinda glad ubisoft fucked off and took something I don't care about, save for the Montreal team.

      As long as nothing ruins the sanctity of Metro: Last Light i'm fine and dandy. I'll give Koch Media/Deep Silver a chance. I don't know how this will affect future(?) Darksiders releases as well. I think it's pretty much ended now. Kinda sad that they had to go out like that, but shit happens.
    • Apr 9, 2012
      I've been reading this on Gamebanana the moment it came...

      They were the creators of what I call to be the game of my childhood: Red Faction 1 & 2
      They will remain in my hearth and gaming soul for always.

      Too bad about Metro: Last Light though, I have the feeling it will be screwed, Metro 2033 was so awsome!
    • Jun 11, 2012
      Metro Last Light is almost out the door and as long Koch Media doesn't influence the gold release thus I'm content that I'm going to play a non dead island developer influenced game. Also why would they go in right now and change any of the game beside to put their Logo in the intro sequence.

      Crytek should have took Volition because Saint Row series has gotten popular and in terms of a business move this would have been the ideal choice.

      Warhammer series went to Sega....That is really irky and sucks since Warhammer series has a low popularity and by it going to Sega it might get shelved by them

      The Best Deal out of all this was THQ Montreal going to Ubisoft Montreal who for the last decade has been one of the dev studios. And THQ Montreal is actually happy with the outcome so expect South Park game to be on trail.
    • Aug 18, 2006
      EA has offered to buy Take Two on multiple occasions, and they literally told EA to "fuck off". This was before they released GTA 4, which the release for saved them. Take Two won't sink. They are smart. I am also surprised that Crytek is apparently doing well enough to buy Homefront...?
    • Jun 11, 2012
      Take Two owns Rockstar and 2K, who 2K makes and publishes some of the most popular games including Bioshock :nailbiting:, CIV, Boderlands, XCOM and so on. Take Two is standing on a great umbrella and will go on.
      • Informative Informative x 1
      • Mar 12, 2008
        Straight told. Imagine your GTA with "log in to play" and DLC up the ass. Nobody wants to see their franchise to turn into that.

        Homefront was O.K. But i'm interested to see what they will do to it.
      • Jan 11, 2012
        In what dimension would that be an ideal choice? SR is crap compared to Crysis and a complete other game than Crytek are used to.
        The ideal choice for them is indeed Homefront
      • Jun 11, 2012
        Saint Row games are made with humor, think of it GTA 4 made extremely funny. SR doesn't have to compete with Crysis because those are two different games. But for Crytek to stay relevant they should have took Volition. Else Crytek is riding off EA wings instead of standing on their own.

        Homefront game was ok since something was really wrong with the story progression which is why most people complained. The gameplay was well done but something was really wrong to a point where it left gamers with a wtf just happened type of feeling. Again they bought they IP and not Homefront 2 so that might negatively influence them in terms of a business approach.
      • Apr 9, 2012
        I'm really sorry but I have a hard time understanding how Crytek should have chosen Saints Row, they have no such games coming even close to the same genre. I think they did really fine, Homefront was (in this case) the most ideal choice I think.
        • Agree Agree x 2
        • Jan 12, 2012
          they got it for cheap Really 500k
        • Jun 11, 2012
          Interview with head of THQ on why it failed and also interview with each firms that bought THQ IP's and Studios. It's very thorough and each firm weight in on why they bought certain thing from THQ, how are they going to move on, How much they bought it for.
        • Dec 6, 2011
          All about the money.

          Metro Last Night will no longer be.

          My life no longer has meaning.

        • Mar 12, 2008
        • Jun 11, 2012