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THQ files for BANKRUPTCYNOOOOOOO!!

#31FFTHEWINNERPosted 12/19/2012 3:15:41 PM
NOOOOO!!!! :'(

oh,they arent closing but are basically being bought??!! OK Then >_>.
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#32SheepinatorPosted 12/19/2012 3:26:16 PM(edited)
Super Creatures posted...
clippjoint2 posted...
so who will buy the Saints Row Franchise ?

Nobody?

Because, if you had bothered to read the topic before posting, you would have seen that they aren't shutting down, meaning they aren't selling their IPs.

Actually THQ said they are a "stalking horse bidder", to allow other bidders to come forth and in the meantime THQ gets shelter from its debt problem. This implies the new owner is seeking to flip that publisher, so to speak, and turn a quick profit. If they can do that by selling parts, they surely will. Section 363 is essentially an auction process.

I could see EA being front runner to buy Saints Row and presumably the development studio behind it. The other IP's and studios will see less interest IMO.

Clearlake has agreed to serve as the “stalking horse bidder” for a Section 363 sale process, which allows other interested parties to come forward with competing bids. Aggregate consideration offered by Clearlake for the purchase totals approximately $60 million, including a new $10 million note for the benefit of the company's creditors. The company is asking the Court for a schedule to complete the sale process in about 30 days.
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#33TheArcadePosted 12/19/2012 3:28:57 PM
NOOOOOOOO!!! My Smackdown games. My beautiful Smackdown games. ._.
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#34YamaguxhiPosted 12/19/2012 3:43:49 PM
TheArcade posted...
NOOOOOOOO!!! My Smackdown games. My beautiful Smackdown games. ._.


Leave this place.
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#35FFTHEWINNERPosted 12/19/2012 3:47:28 PM
TheArcade posted...
NOOOOOOOO!!! My Smackdown games. My beautiful Smackdown games. ._.


thq are only publishers for them. Dont wory :).
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WHO AM I?FFTHEWINNER. WHO ARE YOU?URTHELOSER
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#36kingwutuguPosted 12/19/2012 4:12:19 PM
Yaaaaaaaaaaaaaaaaaaay! now it's bioware's, activision's and EA's turn for making crap games that barely make it even with their crap DLC
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#37UNWANTEDSONPosted 12/19/2012 5:34:43 PM
http://assets0.ordienetworks.com/images/GifGuide/michael_scott/i%20declare%20bank.gif
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mom and dad could be anywhere
mom and dad they just don't care
#38WhitGameR44Posted 12/19/2012 5:51:26 PM
While I wasn't much of a fan of most of their franchises, just having that South Park game and Metro alone makes me sad for this news. Hope they don't have to sell off their franchises in the future...would hate for EA to get their greedy little hands on anything anymore.
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#39Dancouga_NovaPosted 12/20/2012 12:04:42 AM
secondhand1 posted...
zerooo0 posted...
This is a Chapter 11 Bankruptcy report in U.S. Courts. Don't know what that means, but they're hoping to partner with someone that will help them out.


Basically, your debt is wiped out and you garner the financial support of third parties to get you back on the straight and narrow while you continue to operate as normal.


What do you mean "wiped out"? What happens to all the existing creditors? Does the new owner pay them off? Also, what about other existing legal liabilities? Do those still exist, or is this new THQ essentially a separate entity?

Sorry, I'm not familiar with US insolvency law, and from what I'm seeing it seems to have some salient differences from Australian insolvency, which is what I'm familiar in.
#40blakbird13Posted 12/20/2012 12:11:22 AM
Sheepinator posted...
DXiRoNMaN posted...
can't Obama just save them?

No union votes. No Wall Street. No save.


I was going to say they aren't union so he's out... They should buy Hostess and start making Twinkies... I heard UDraw had done a lot of damage to the company...

http://games.yahoo.com/blogs/plugged-in/1-4-million-udraw-tablets-gathering-dust-somewhere-232858702.html
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