THQ Forced to Shut Its Doors

THQ has entered its final moments before it shuts its doors for good. Rather than sell the entire company and all of its assets to one single bidder, THQ found it necessary to sell different parts of its company to multiple buyers in an auction that lasted 22 hours.

It seems that many companies are finding it difficult to keep their doors open as of late. One of the longest running companies recently shut its doors as well; Atari.

As it stands right now, the buyers and the assets they’ve chosen to purchase can be seen below.

  • Sega agreed to purchase Relic
  • Koch Media agreed to purchase Volition and Metro
  • Crytek agreed to purchase Homefront
  • Take 2 agreed to purchase Evolve
  • Ubisoft agreed to purchase Montreal and South Park

If numbers are your kind of thing, you can take a look at the auction summary here.

This can only mean that many THQ employees may be out of a job. CEO, Brian Farrell, and President, Jason Rubin, stated in an email to all of its employees with the following among other things:

[quote]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.[/quote]

Also stated in the email, employees of an entity or asset belonging to THQ that was not included in any sales will have their position terminated.

The good news here is that this could have all ended a lot worse. As fans of the any of the franchises involved in the sale, we can at least say that their production will continue and we can still look forward to their releases in the future.  From everyone here at TGF, we send out are most heartfelt condolences to anyone who has been affected by THQ’s financial restructuring. We hope nothing but the best for you.

Share this article:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on tumblr
Tumblr
Share on email
Email
Share on whatsapp
WhatsApp

Recent Posts

Kamikaze Lasspalnes in game screenshot PAX East

A Plane Dating Sim? Kamikaze Lassplanes @ PAX East 2024

When we say that Shidosha has an interesting taste in games, we are not exaggerating. Are you into bullet hell shooters? How about dating sims? Well if that piques your …

No Love Lost - person fighting an alien creature PAX East

A Colorful Competitive Extraction Shooter – No Love Lost @ PAX East 2024

No Love Lost is a new extraction shooter from Ratloop Games Canada. You are dropped onto an alien world and have to compete against not only the enemy team but …

Heartworm game art. A woman with short dark hair holding a camera PAX East

A PS1 Styled Masterpiece – Heartworm @ PAX East 2024

PAX continues to deliver new and unique gaming experiences. This year, one of our favorite games was Heartworm, a PS1 style horror game with Tank controls. Inspired by games like …

Warframe and Soulframe Live Devstream at PAX East Gaming News

Warframe and Soulframe Make an Apprearance at PAX East 2024

Digital Extremes held their most recent Devstream live during PAX East 2024, celebrating 11 years of Wareframe. One of the most exciting bits of news was the deeper look into …

Marvel 1943 cover art. Captaint America and Black Panther Gaming News

Get a Closer Look at the New Black Panther and Captain America Game | Marvel 1943

It’s been a while since we first got word that the great Amy Hennig was working on a new Black Panther and Captain America game. After creating something like Uncharted, …

Mad Catz Strike 11 Keyboard. A keyboard with red and black keys Hardware & Tech

Mad Catz S.T.R.I.K.E. 11 Mechanical Keyboard Impressions

I have been on the search for a decently priced wireless keyboard and there is no shortage these days. Our friends over at Mad Catz sent over their S.T.R.I.K.E. 11 …