THQ's For Coming

THQ announced late last year that it would be filing for chapter 11 bankruptcy as it had run into significant financial problems. It was initially expected (as reported here) that the clear lake capital investment group would be bankrolling its operations until they could buy the company outright and it would continue as a whole in that manner until it got back on its feet.

This didn't happen. Their creditors and a government trustee filled objections saying that THQ had rigged the proceedings so it would be more fair to them than it would be to the creditors. A judge ruled in their favour and bidding was opened with the deadline set for January 22nd.

Well the bidding for the pieces of THQ ended today and here's how it all ended up.

The good folks at Sega took home Relic Studios and the Company Of Heroes IP ($26.6m).

Ubisoft picked up the South Park: The Stick Of Truth ($3.3m), THQ Montreal's studio along with two unannounced game IP's Underdog and 1666 ($2.5m) which had only been revealed through the bankruptcy proceedings.

Take-Two Interactive bought the Evolve IP ($10.9m)..

Crytek GmbH nabbed the Homefront IP rights ($544,218).

Volition Studios  and the licenses for Saints Row and Metro (including 2033 and 2034) went to Koch Media GmbH (also known in the states as Deep Silver).

One thing I wanted to make sure was clear about that last one. Koch Media. I know ethical shoppers will be aware of a particular pair of politically active businessmen in america with a similar sounding name. I want to assure you that the company Koch Media is not affiliated with them. 

Koch Media is a company that started in Germany in the early 90's by a couple of German guys. So yeah, buying games from Deep Silver does not support those with nefarious schemes for world domination. Unless Franz and Klemens have been playing that one particularly close to their chests.

Between all of this and Atari filing for the same chapter 11 bankruptcy you could be forgiven for believing that the games industry is dying. And in some ways it is. 

The games industry, as with any new industry, is volatile and probably will be for the next 50 years. But then it will have been forced to evolve by market forces so much that really at the end of the day it will be so much stronger.

So while it may be sad to say farewell to what we consider to be old friends. There is a lot to be hopeful for in the future of gaming. Just keep supporting games and studios you love and the rest will follow.

*sometimes wonders if opera is on to something*

Sources: Joystiq, Koch Media (now with 100% less evil)