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THQ dissolved, winning bidders of franchises announced

thq-dissolved

After filing for Chapter 11 bankruptcy a while back and lots of speculation about the potential new owners of its franchises, game publisher THQ was officially dissolved this week. The company reached a decision that more money could be made by selling the franchises separately instead of selling THQ as a whole… and we’ve got a list of the companies that won the bidding of THQ’s fairly juicy portfolio of game franchises. If everything goes smoothly, THQ will raise $70 million from the sales this week and will have $29 million worth of assets to go; word is that everything will be eventually sold, down to the hardware and office equipment of the now defunct company.

Here’s a list of the companies that THQ’s game franchises will go to:

  • Sega to purchase Relic Entertainment (Maker of Company of Heroes and Warhammer 40,000 franchises) for $26.6 million
    Backup bidder: Zenimax Media offering $26.3 million
  • German media company Koch Media (and parent company of game maker behind Dead Island and Risen) to buy the Volition (Maker of the Saints Row franchise) for $22.3 million and Metro franchise for $5.9 million
    Backup bidder for both franchises is Ubisoft with bids of $5.4 million and $5.2 million respectively
  • Crytek to purchase the Homefront franchise for $540,000
  • Ubisoft to purchase THQ Montreal for $2.5 million and South Park: The Stick of Truth for $3.3 million
  • Take-Two Interactive (publisher of Grand Theft Auto and BioShock) to purchase  Evolve for $10.9 million
    It’s noteworthy that they outbid the Turtle Rock Studios by a massive amount (Turtle Rock offered $250,000)

THQ CEO Brian Farrell and president Jason Rubin have sent out letters to employees today. They mention that employees behind the franchises sold will be transferred to the buying company, though they make no guarantee that the new owners will have positions once the transfer is complete. Employees of entities and assets not sold will be, unfortunately, laid off. There’s already plenty of reaction around the internet over the THQ sale: Sega has already posted about their proud acquisition on their corporate blog and gamers on internet forums everywhere are mourning the loss of the company and hoping for a better future of their game franchises in the hands of their new owners.

There’s more to come about the fate of THQ’s remaining assets/entities as well as what will happen to their franchises under their new owners, and we’ll be sure to cover the latest ongoings and keep you all posted as stories develop.

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