Published on January 23rd, 2013 | by Mark Gibson, Editor/Community Manager

THQ Officially Dissolved

After struggling for the past few years, THQ has officially closed its doors and auctioned off its library of franchises. The company has been widely known for being an iconic publisher and development studio. A letter was sent to the employees of THQ from CEO Brian Farrell and President Jason Rubin explaining the liquidation. The letter was acquired by Kotaku and reveals THQ’s ongoing case with the U.S. Bankruptcy Court.

Here is a short list of the auction bids and backup bidders:

Homefront franchise
Winning bid: $544,218 – Crytek
Backup bidder: None

Volition and Saints Row franchise
Winning bid: $22.3 million – Koch Media
Backup bidder: $5.4 million – Ubisoft

Metro franchise
Winning bid: $5,877,551 – Koch Media
Backup bidder: $5.175 million – Ubisoft

Evolve aka Metamorphosis
Winning bid: $10.894 million – Take-Two Interactive
Backup bidder: $250,000 – Turtle Rock Studios, Inc.

Relic Entertainment and Company of Heroes franchise
Winning bid: $26.6 million – Sega Corporation
Backup bidder: $26.3 million – Zenimax Media

THQ Montreal, including 1666 and Underdog
Winning bid: $2.5 million – Ubisoft
Backup bidder: None

South Park: The Stick of Truth
Winning bid: $3,265,306 – Ubisoft
Backup bidder: None

While many of these titles will live on with other companies, and in return keep people employed, all employees not involved in these sales will be let go. Which is unfortunate.

“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.”
stated the letter from Farrell and Rubin.

Sales are expected to close by the end of the week. A small number of staff from THQ’s headquarters in Agoura Hills, Calif. will remain employed through Jan. 25 to help with the transitions.

“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.”

More news is expected to follow over the coming weeks as sales continue.

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About the Author

is a writer who loves video games, movies and beer. His favorite games are RPG and FPS. When he isn’t busy gaming and writing, he enjoys hanging out at cool bars and talking about gaming and writing. Twitter: @markthius

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