THQ has officially “filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the District of Delaware,” according to a brand new press release. The company has been struggling for a long time now, and it appears that THQ has been forced to enter into an Asset Purchase Agreement with the Clearlake Capital Group. The […]
The ballad of THQ’s bankrupcy continues to weave more and more entangled threads of intrigue. The Clearlake Capital Group was all set to outright buy all of the struggling publisher’s assets for $60 million, but a judge blocked the sale stating that the deal did not give other buyers enough time to enter in with a […]
Earlier this week, THQ announced that they were filing for Chapter 11 Bankruptcy and that their assets were to be bought buy a company called Clearlake Capital. You can read into that story, and more, by checking out the articles linked to the right. Clearlake Capital, as we covered in the story of THQ’s bankruptcy, […]
THQ and Double Fine worked together before when THQ licensed their adventure game, Stacking; a quirky puzzle adventure where every character is a Russian matryoshka doll. THQ also published their Halloween themed RPG Costume Quest, and both games proved popular with long time fans.
Double Fine is generally well known for its offbeat graphic adventures and whacky sense of humor, thanks to company standouts like founder Tim Schafer and Monkey Island creator Ron Gilbert. One has to wonder which THQ property they are interested in purchasing as none of the existing franchises play to their offbeat sense of humor.
You also have to wonder how they plan to compete with huge companies like EA and Warner Bros. Obviously, big franchises like Darksiders, Saints Row, and Company of Heroes will be picked up rather quickly for prices outside of Double Fine’s range. Could there be an obscure little something Double Fine is going for, or does it have to do with securing unspoken rights to Stacking and Costume Quest?
How about it? What does THQ have that Double Fine could possibly want?
THQ filed for bankruptcy and a judge determined the $60 million deal they struck up with Clearwater Capital Group did not give other buyers enough time to make an offer. The judge determined that the only way to settle this was to auction off each of THQ’s franchises one at a time, and this auction will occur on January 22nd.