Published in News
THQ’s bankruptcy asset sale approved
by David Stellmack on25 January 2013
About $72 million raked in from sale
THQ’s sale of assets has been approved by the US Bankruptcy Court, which saw titles as well as studios find new homes with multiple (and some surprising) buyers. The sale netted the THQ estate approximately $72 million, which now makes the total estimated value of the estate about $100 million. That $100 million includes certain assets and other IP that was excluded from sale.
THQ’s publishing business as well as Vigil Games and certain other assets and IP will remain part of the THQ estate and continue in the Chapter 11 process. It is possible that some of the remaining IP as well as Vigil Games could still be sold and find a new owner, but sources tell us we are still some time away from seeing the entire remaining THQ bankruptcy sorted out.
The sales from the auction that are now approved will close today and the saga will continue; but experts tell us that any hope for a THQ restructuring that would allow the company to remain intact and continue are gone.