Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 17 July 2013 07:29

Final liquidation plan for THQ approved

Written by David Stellmack

This ends the bankruptcy case and publisher

THQ is the latest publisher to end as a footnote in the history of video gaming. The final liquidation plans for THQ were approved by a Delaware bankruptcy court, which brings the THQ bankruptcy case to a close.

The approved plan will see THQ creditors receive payment out of the monies collected from auction of THQ’s assets. The auction raised $72 million in total, with another $655 million coming from the remaining titles and publishing rights that were sold in April.

So, depending on the creditor’s claim, it is estimated that creditors could get between 20 and 52 percent of the amount they are owed. Still, these numbers are not fully decided; THQ’s European subsidiaries have submitted claims for $107 million and that would obviously lower the overall creditor payment amount if these claims from the European subsidiaries are allowed to stand.

While THQ has come to an end, at least some of its franchises will live on. The new title in the Metro franchise has already been released and the new Saint’s Row title is headed for release very soon. Of course, WWE 14 is on track as well. Other titles that THQ had in development and sold seem to also be making their way toward release, which gives us at least a solid indication that some of the key THQ franchises will survive.

blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments