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THQ No More, Titles Sold Off During Auction Find New Homes

By
Posted on January 23, 2013 AT 01:58pm

Yesterday, THQ sold off several intellectual properties and licenses during their bankruptcy auction. Today, the winning bids and runners up were made public.

  • Relic Entertainment (Company of Heroes)
    • Winner: Sega, $26.6 million
    • Runner up: Zenimax Media, $26.3 million
  • THQ Montreal (1666 and Underdog)
    • Winner: Ubisoft, $2.5 million
  • Evolve
    • Winner: Take-Two Interactive, $10.894 million
    • Runner up: Turtle Rock Studios, $250,000
  • Volition, Inc. (Saints Row)
    • Winner: Koch Media (Deep Silver), $22.3 million
    • Runner up: Ubisoft, $5.4 million
  • Homefront series
    • Winner: Crytek, $544,218
  • Metro series
    • Winner: Koch Media (Deep Silver), $5,877,551
    • Runner up: Ubisoft, $5.175 million
  • South Park: The Stick of Truth
    • Winner: Ubisoft, $3,265,306

And what of the people affected by THQ’s bankruptcy and the sale of their various studios? THQ CEO Brian Farrell and president Jason Rubin said in a letter to all 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

Chris Holzworth, News Editor
Chris Holzworth has wanted to write about games all his life. He first cut his teeth writing for enthusiast sites such as RPGFan, and after writing for just about every other enthusiast website he could came across, wound up as EGM's east coast news correspondent (read: editorial intern, a fancy phrase for "slave") before relocating to LA to serve as news editor. [Meet the rest of the crew]

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