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THQ Dissolved
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THQ Dissolved
Guest Wed Jan 23, 2013 11:46 pm
Following THQ’s auction of its assets, the new homes of THQ franchises are slowly being revealed. Koch Media, Take-Two, Ubisoft and SEGA are among the potential new owners of THQ’s intellectual property and studios.
It's worth noting that all of these sales are pending approval from U.S. bankruptcy court and nothing is finalized yet. A hearing is currently underway in Delaware.
SEGA has agreed to purchase Relic, developer of Company of Heroes 2 and Warhammer 40,000: Dawn of War.
Koch Media (owner of Dead Island publisher Deep Silver) has agreed to purchase Saints Row developer Volition as well as the publishing rights to the Metro franchise. (Update: According to a statement issued by Koch, "Deep Silver, Koch Media’s international publishing powerhouse, will lead all further development and marketing on the Saints Row and Metro franchises." The statement added that "Koch Media and Deep Silver will roll out future plans for each franchise in the coming months.")
Crytek, who is currently developing Homefront 2, has purchased the rights to the Homefront franchise.
Take-Two (parent company of 2K and Rockstar) has agreed to purchase Turtle Rock Studios’ project codenamed Evolve. (Update: While Take Two was initially rumored to have acquired Darksiders publisher Vigil, it has since been revealed that this isn't the case)
Ubisoft has purchased the rights to publish South Park: The Stick of Truth as well as THQ Montreal, the current developer of Assassin’s Creed creator Patrice Desilets’ project codenamed 1666. (Update: Ubisoft has confirmed the purchase, noting in a statement that "THQ Montreal will join Ubisoft’s development teams." Ubisoft also says that South Park: The Stick of Truth "is scheduled for release in calendar 2013.")
According to Distressed Debt Investing, Ubisoft paid $3.2 million for South Park and $2.5 million for THQ Montreal, Koch Media paid $5.8 million for Metro and $22.3 million for Volition and Crytek paid $500,000 for Homefront. No bids were placed for Vigil.
Polygon reports that SEGA bid $26.6 million for Relic, and a second-place bid came from Bethesda parent company ZeniMax Media, who offered $26.3 million. The site also reports that Take-Two paid $10.8 million for Evolve, with a second place bid for $250,000 coming from Turtle Rock itself.
Many THQ employees, meanwhile, report having lost their jobs via social networks.
Assets including Darksiders studio Vigil and have not been acquired. The future home of the WWE franchise has yet to be disclosed, though IGN sources suggest Take-Two will purchase the license.
We’ve reached out to all parties and will continue to update this story with comments and confirmation we receive.
IGN wishes the best of luck to anyone affected by today's news.
Update: Kotaku has obtained a letter from THQ CEO Brian Farrell and president Jason Rubin sent to all THQ employees.
The full text is as follows:
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 t:
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.
Sincerely,
Brian Farrell Chief Executive Officer
Jason Rubin President
Guest- Guest
What's Next for THQ's Games? Same faces, new places. We break down what it all means.
MrRaverX Mon Feb 04, 2013 8:45 pm
With the dust mostly settled
on the THQ bankruptcy proceedings -- that is, all of its active
franchises and studios have found new homes -- the big question that
matters is: what’s next? When will these games launch? Will they launch
at all? What will these development houses work on?
December, but it was right around the corner too, having been pegged to a
March 5 release date to coincide with a new season of South Park TV
episodes. That’s all out the window now.
First, the transfer of publishing rights to French megapublisher
Ubisoft could require plenty of legal ink to dry before the game can
ship. However, that point might be moot, as March 5 no longer marks the day that the new season of the TV show will begin.
Just last week, South Park creators Trey Parker and Matt Stone decided
to change their schedules and instead produce a single 10-episode run
beginning in the fall. The game may be delayed to sync up with this --
and not just for obvious marketing synergy.
See, Ubisoft has a long track record of heavily supporting all
platform launches with the goal of hoping at least one or two of their
launch titles sticks -- from Ghost Recon for Xbox Live in 2002 to Your
Shape: Fitness Evolved for Kinect in 2010 and ZombiU for Wii U in 2012.
It stands to reason, then, that they may add PlayStation 4 and Xbox 720
versions of The Stick of Truth to their strategy, particularly since the
already-established visual style of South Park means that minimal
technical work would likely go into the next-gen versions. In other
words, it would cost Ubisoft almost nothing, relatively speaking, to do
so.
THQ wasted no time in unofficially announcing a fourth Saints Row
game after Saints Row: The Third released to critical and commercial
success. This was no surprise. What was a bit of a shock, however, was
when THQ adjusted their strategy and instead announced Enter the
Dominatrix, a standalone expansion spoofing The Matrix that would be
turned around in less than 12 months – no doubt to try and cash in on
the franchise’s success at a time when THQ was in dire financial straits
and needed every dollar it could get. In short, it was a fiscal Hail
Mary.
Not much
has been heard from the project since, and in the wake of Saints Row
and developer Volition being sold to Koch Media (aka Deep Silver),
there’s no longer any hurry to get something out the door as quickly as
possible. In fact, Volition landing with the relatively small-time Koch
-- a company with exactly one hit to its name (Dead Island) -- means
Volition is likely to get every dollar and every resource Koch can
muster. Saints Row is their ticket to relevance and recognition.
Will Enter the Dominatrix be scrapped in favor of a different concept
for Saints Row 4? Either way, it’s highly likely that it will be a
next-gen game not releasing until holiday 2014 at the earliest.
Koch Media wasn’t done shopping when they threw Volition and Saints
Row in their cart. They also nabbed the rights to this upcoming
post-apocalyptic first-person shooter sequel in the THQ bankruptcy
auction.
If Metro: Last Light
was as complete as its previously announced March release date had
suggested -- and not simply being shoved out the door by THQ in a
last-ditch effort to get some revenue flowing in -- then look for Koch
to release Metro: Last Light
as soon as all of the legal paperwork gets sorted. Possibly March,
maybe April. Especially now that Grand Theft Auto V is no longer a
threat to overshadow everyone in the spring.
The Darksiders
franchise will not be continuing, at least not at Vigil Games, which
was not purchased at the THQ auction and was subsequently shuttered. The
good news, however, is that Germany-based Crytek Studios hired 35 of
the deposed Vigil folks and opened Crytek USA. They’ll be starting on a
CryEngine project, and, according to a Gamasutra report, won’t be
pursuing the Darksiders IP when it goes up for sale in the coming weeks. Instead, look for Crytek USA to start from scratch on a new project.
Speaking of Crytek, it purchased the rights to the Homefront brand in
the THQ auction. This is convenient, considering that Crytek was already
working on Homefront 2
for THQ before the sky fell on the bankrupt publisher. Thus, work
should continue uninterrupted on the first-person shooter sequel while
Crytek looks to find a publishing partner for the game. EA is the most
likely to play that role, as they have a long history of working with
Crytek on the Crysis series. That, and they need a new holiday shooter
they can release bi-annually since Medal of Honor has been given its walking papers for the time being.
Sega swooped in and snagged respected strategy game developer Relic
Entertainment. In the deal, it also got the Warhammer 40k: Dawn of War
franchise and the nearly-done Company of Heroes 2, which had been due
out in early 2013. The latter should launch, like Metro, as soon as the
I’s are dotted and T’s are crossed on all the contracts, while Dawn of
War should live on as healthy (or healthier) than ever. Sega already had a deal in place with Warhammer 40k license holder Games Workshop for a different Warhammer game, so now they’ll have both under one roof, which likely is the ideal scenario for both parties.
Here’s an interesting turn of events: Patrice Desilets, the creative
director of the first two Assassin’s Creed games, left Ubisoft in 2010
and signed with THQ, founding the THQ Montreal studio in the process.
There he’s been at work on a game codenamed 1666, which sure sounds Assassin’s Creed-ish based solely on the name alone, doesn’t it?
Now THQ Montreal has been acquired by Ubisoft, and Desilets is back
in Ubisoft’s employ. That leaves two probable scenarios: either work on
1666 will continue and Ubisoft will fully back it and try to grow it as a
new franchise, or THQ Montreal will be folded into Ubisoft Montreal and
Desilets will be reassigned back to Assassin’s Creed. The latter would
almost certainly be the fastest way to get Desilets to leave the company
again, so the former is far more likely an outcome.
on the THQ bankruptcy proceedings -- that is, all of its active
franchises and studios have found new homes -- the big question that
matters is: what’s next? When will these games launch? Will they launch
at all? What will these development houses work on?
By combining recent THQ fallout news with our own sources and analysis, we think we have a pretty good idea. Let's take a look.
The South Park RPG was not only looking fantastic as recently as December, but it was right around the corner too, having been pegged to a
March 5 release date to coincide with a new season of South Park TV
episodes. That’s all out the window now.
First, the transfer of publishing rights to French megapublisher
Ubisoft could require plenty of legal ink to dry before the game can
ship. However, that point might be moot, as March 5 no longer marks the day that the new season of the TV show will begin.
Just last week, South Park creators Trey Parker and Matt Stone decided
to change their schedules and instead produce a single 10-episode run
beginning in the fall. The game may be delayed to sync up with this --
and not just for obvious marketing synergy.
See, Ubisoft has a long track record of heavily supporting all
platform launches with the goal of hoping at least one or two of their
launch titles sticks -- from Ghost Recon for Xbox Live in 2002 to Your
Shape: Fitness Evolved for Kinect in 2010 and ZombiU for Wii U in 2012.
It stands to reason, then, that they may add PlayStation 4 and Xbox 720
versions of The Stick of Truth to their strategy, particularly since the
already-established visual style of South Park means that minimal
technical work would likely go into the next-gen versions. In other
words, it would cost Ubisoft almost nothing, relatively speaking, to do
so.
game after Saints Row: The Third released to critical and commercial
success. This was no surprise. What was a bit of a shock, however, was
when THQ adjusted their strategy and instead announced Enter the
Dominatrix, a standalone expansion spoofing The Matrix that would be
turned around in less than 12 months – no doubt to try and cash in on
the franchise’s success at a time when THQ was in dire financial straits
and needed every dollar it could get. In short, it was a fiscal Hail
Mary.
Not much
has been heard from the project since, and in the wake of Saints Row
and developer Volition being sold to Koch Media (aka Deep Silver),
there’s no longer any hurry to get something out the door as quickly as
possible. In fact, Volition landing with the relatively small-time Koch
-- a company with exactly one hit to its name (Dead Island) -- means
Volition is likely to get every dollar and every resource Koch can
muster. Saints Row is their ticket to relevance and recognition.
Will Enter the Dominatrix be scrapped in favor of a different concept
for Saints Row 4? Either way, it’s highly likely that it will be a
next-gen game not releasing until holiday 2014 at the earliest.
Row in their cart. They also nabbed the rights to this upcoming
post-apocalyptic first-person shooter sequel in the THQ bankruptcy
auction.
If Metro: Last Light
was as complete as its previously announced March release date had
suggested -- and not simply being shoved out the door by THQ in a
last-ditch effort to get some revenue flowing in -- then look for Koch
to release Metro: Last Light
as soon as all of the legal paperwork gets sorted. Possibly March,
maybe April. Especially now that Grand Theft Auto V is no longer a
threat to overshadow everyone in the spring.
The Darksiders
franchise will not be continuing, at least not at Vigil Games, which
was not purchased at the THQ auction and was subsequently shuttered. The
good news, however, is that Germany-based Crytek Studios hired 35 of
the deposed Vigil folks and opened Crytek USA. They’ll be starting on a
CryEngine project, and, according to a Gamasutra report, won’t be
pursuing the Darksiders IP when it goes up for sale in the coming weeks. Instead, look for Crytek USA to start from scratch on a new project.
Speaking of Crytek, it purchased the rights to the Homefront brand in
the THQ auction. This is convenient, considering that Crytek was already
working on Homefront 2
for THQ before the sky fell on the bankrupt publisher. Thus, work
should continue uninterrupted on the first-person shooter sequel while
Crytek looks to find a publishing partner for the game. EA is the most
likely to play that role, as they have a long history of working with
Crytek on the Crysis series. That, and they need a new holiday shooter
they can release bi-annually since Medal of Honor has been given its walking papers for the time being.
Entertainment. In the deal, it also got the Warhammer 40k: Dawn of War
franchise and the nearly-done Company of Heroes 2, which had been due
out in early 2013. The latter should launch, like Metro, as soon as the
I’s are dotted and T’s are crossed on all the contracts, while Dawn of
War should live on as healthy (or healthier) than ever. Sega already had a deal in place with Warhammer 40k license holder Games Workshop for a different Warhammer game, so now they’ll have both under one roof, which likely is the ideal scenario for both parties.
1666 - no pic available
Here’s an interesting turn of events: Patrice Desilets, the creative
director of the first two Assassin’s Creed games, left Ubisoft in 2010
and signed with THQ, founding the THQ Montreal studio in the process.
There he’s been at work on a game codenamed 1666, which sure sounds Assassin’s Creed-ish based solely on the name alone, doesn’t it?
Now THQ Montreal has been acquired by Ubisoft, and Desilets is back
in Ubisoft’s employ. That leaves two probable scenarios: either work on
1666 will continue and Ubisoft will fully back it and try to grow it as a
new franchise, or THQ Montreal will be folded into Ubisoft Montreal and
Desilets will be reassigned back to Assassin’s Creed. The latter would
almost certainly be the fastest way to get Desilets to leave the company
again, so the former is far more likely an outcome.
Project Evolve - no pic available
Turtle Rock Studios hit it big with the original Left 4 Dead. After
an amicable parting, however, Valve took Left 4 Dead development
in-house for the sequel and Turtle Rock struck a deal with THQ to
develop a new IP, rumored to be a co-op driven, first-person shooter
similar to Left 4 Dead. That game is codenamed Evolve, and work
continues on it by Turtle Rock, albeit for Take-Two, who purchased the
rights in the THQ bankruptcy auction.
And if Take-Two is known for anything, it’s giving its development
studios as much time as they need in order to get their games right.
Nearly every major 2K Games release sees a significant delay, including
Grand Theft Auto IV, Mafia II, Spec Ops: The Line, BioShock Infinite,
and the apparently-still-alive XCOM shooter. Thus, don’t expect Evolve
anytime soon, and expect it to be a next-gen game.
Onward and Upward
Ultimately, all of this is mostly good news for gamers. Each of these
studios and properties found new homes because they’re desirable and
because they are -- or have the potential to be -- successful. It may be
a while before we know the end result of the THQ bankruptcy auction,
but the games will have the final say, on this generation of consoles
and the next.
Turtle Rock Studios hit it big with the original Left 4 Dead. After
an amicable parting, however, Valve took Left 4 Dead development
in-house for the sequel and Turtle Rock struck a deal with THQ to
develop a new IP, rumored to be a co-op driven, first-person shooter
similar to Left 4 Dead. That game is codenamed Evolve, and work
continues on it by Turtle Rock, albeit for Take-Two, who purchased the
rights in the THQ bankruptcy auction.
And if Take-Two is known for anything, it’s giving its development
studios as much time as they need in order to get their games right.
Nearly every major 2K Games release sees a significant delay, including
Grand Theft Auto IV, Mafia II, Spec Ops: The Line, BioShock Infinite,
and the apparently-still-alive XCOM shooter. Thus, don’t expect Evolve
anytime soon, and expect it to be a next-gen game.
Onward and Upward
Ultimately, all of this is mostly good news for gamers. Each of these
studios and properties found new homes because they’re desirable and
because they are -- or have the potential to be -- successful. It may be
a while before we know the end result of the THQ bankruptcy auction,
but the games will have the final say, on this generation of consoles
and the next.
MrRaverX- Founder
-
Honor : 2567 -
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