THQ maybe going belly up :(

[Fairweather Pure]

They canceled all projects targeted for 2014. They only exist right now for the purposes of trying to sell the company.

Dawn of War, Company of Heroes, Darksiders, Saints Row, Warhammer: Space Marine, Dark Millennium (the 40k MMO I've been looking forward to for years), Metro 2033, Destroy All Humans, Red Faction, STALKER, Homeworld, disgusting amounts of WWE and UFC games, and a shit ton of shovelware...

Relic, Vigil, and Volition should be able to be sold off, but you never know. There is going to be a lot lost when THQ is gone

[kyoukan]

Most of those games THQ only publishes. With the exception of Volition and Relic, which they own. That studio would be an easy sale though. It is not like they would vanish.

THQ has been doing alright though. I don't know where you got this news but it probably isn't accurate.

[Fairweather Pure]

Their stock was worth 6.53$ 1 year ago and it's worth .65 right now. They had some drawing game tank this holiday season and I think that was the straw that broke the camel's back. I'm sure the truth about the rumor will come out pretty soon!

[Kwonryu DragonFist]

Yes, it was quite saddening when i heard the news about this.

Hopefully they manage to sell to someone that can continue the SR-franchise

[miir]

False rumors are false.

THQ has not cancelled its 2014 line-up, and has not made any decisions regarding the planned MMO. As part of the ongoing review of our business, we have made decisions to ensure that the company is strategically addressing the most attractive markets. As we have previously announced, we have dramatically reduced our commitment to the kids' boxed games sector which leads to a significantly more focused release schedule moving forward. Our slate for calendar 2012 and beyond is focused on high-quality core games and continues to build our digital platform and business. We are excited for our pipeline of original and high-quality content along with our relationships with some of the best talent in the industry.

[kyoukan]

Yeah the price of their stock notwithstanding, THQ has a lot of cash on hand and have had several hits lately. Their kid's games used to do well but now that Nintendo only makes minigame collections there is no real reason to be in that market anymore.

Volition's latest Red Faction game was a huge flop but deserved to be. Saint's Row 3 did very well and they always sell a ton of rasslin games.

[Dakanaf]

Freespace 3 please.

[Fairweather Pure]

Nasdaq has threated to delist THQ unless it's stock rises over 1.00$. They're also axing another 170 people just prior to their earnings report. It's still not looking good for THQ

[Fairweather Pure]

Well, THQ is cutting 240 jobs and the CEO is taking a pay cut. There was far more truth in the original rumor than fiction. Let's hope the next batch of games sell really well. They need more Saints Row the 3rd-type of hits to stay afloat.





"Facing a Wall Street delisting and flagging sales, publisher THQ today outlined plans for a massive restructuring that eliminates up to 240 jobs and cuts the pay of execs by as much as fifty percent.

“On January 26, 2012, Company’s management initiated a plan of restructuring in connection with the updated business strategy in order to appropriately adjust the Company’s operating expenses to better align with the expected revenues under the updated strategy,” according to an SEC filing. “The restructuring plan involves a realignment of the organizational structure resulting in reductions of up to 240 selling, general and administrative personnel worldwide. The majority of the restructuring plan is expected to be implemented by March 31, 2012, with the remainder completed by September 30, 2012.”

The plan also reduces company president and chief executive officer Brian J Farrell’s base salary by fifty percent, down from $718,500 to $359,250 for one year. It also reduces any lump pay tied to Farrell leaving or being fired without cause by a third.

The rest of the company’s directors were also hit with a one year, fifty percent pay cut.

THQ says in the filing that the massive layoffs and pay restructuring are all tied to the companies “updated business strategy” which has them refocus their energies on core video game franchises and digital initiatives. The company decided to stop making kids’ licensed video games. The cut in staffing is a reflection of how much the company thinks it can make under this new plan, according to the filing.

The company expects to spend about $8 million in severance and half a million in contract terminations."

[Bubba Grizz]

Man those guys were already living paycheck to paycheck. How are they going to survive on only $350k a year?

[Aslanna]

THQ done for. Most of their stuff was sold off. According to Kotaku though nobody has bid for Vigil though (Darksiders people).

Here's who bid on what:

Relic Entertainment
Makers of Company of Heroes
Winning bidder: Sega, $26.6 million.
Backup: Zenimax Media, $26.3 million.

THQ Montreal
Makers of 1666 and Underdog, titles under development.
Winning bidder: Ubisoft, $2.5 million. No runner-up.

Evolve
(title in development at Turtle Rock Studios)
Winning bidder: Take-Two Interactive, $10.894 million.
Backup: Turtle Rock Studios, $250,000.

Volition, Inc.
Maker of Saints Row
Winning bidder: Koch Media, $22,312,925.
Backup: Ubisoft, $5.4 million.

Homefront
Released 2011; due for a sequel.
Winning bidder: Crytek. $544,218.

Metro
Series; due for the sequel Metro: Last Light.
Winning Bidder: Koch Media, $5,877,551
Backup: Ubisoft: $5.175 million.

South Park
License; South Park: The Stick of Truth is due for release March 5.
Winning bidder: Ubisoft, $3,265,306

[Funkmasterr]

Hopefully the games stay alive. I really like the darksiders and metro games, and was looking forward to the South Park game.

[Fairweather Pure]

Everything is alive for the most part. CoH2, Metro: Last Night, and South Park are keeping their release dates so far. Everything is going to be ok, except for Vigil which is gone. The Darksiders IP as well as a handful of others (including Homeworld) will go up for auction later.

It's really sad, but everyone knew it was coming for a long while. At least Relic is in good hands at Sega. That was who I was most concerned about. Damn shame about Vigil though. I'm pretty surprised no one picked them up. Word is the Platinum games is interested in the Darksiders IP though, which would be interesting to say the least.

[miir]

How the hell is Homefront worth a half mil?

[Fairweather Pure]

How the hell is Homefront worth a half mil?

I think it's close to being complete and Cry was helping with it anyway. But yeah, wtf. Homefront gets bought and Darksiders gets a pass? Crazy town.

[Spang]

False rumors are false.

[miir]

What in the fuck are you talking about?

[Animalor]

The fact that no one picked up Darksiders is really unfortunate. One of the most under-rated IP's this generation IMO.

[miir]

The fact that no one picked up Darksiders is really unfortunate. One of the most under-rated IP's this generation IMO.

Not in my opinion... I think it's totally overrated

[Boogahz]

Didn't like the first one. Never tried the second.

[miir]

I liked parts of the first one, but by the time it got to the portal gun levels, I was sick of it.

[Funkmasterr]

I loved both of them.

[Fairweather Pure]

What in the fuck are you talking about?

5th post in this thread is what he's talking about.

[Aslanna]

Overall I liked the first one. However I did find the portal shit got tiresome near the end. I bought DS2 on a Black Friday deal but doubt I will get to it anytime soon.