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THQ files for Chapter 11 Bankruptcy

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  • skankerzero
    i would still be getting my stuff ready.

    when studios get bought they often replace management, and then it rolls downhill from there.
  • Lennyagony
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    Lennyagony polycounter lvl 14
    i would still be getting my stuff ready.

    when studios get bought they often replace management, and then it rolls downhill from there.

    Absolutely Skanker, i would hope anyone at THQ has their work well and truly backed up by this point.

    Another part of this that is somewhat terrifying is the talent drain that must surely be happening right now, by the time the dust has settled how much of the star talent will remain at any of the surviving studios?
  • Steve Schulze
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    Steve Schulze polycounter lvl 18
    title by title meaning Darksiders 1 and 2 could end up being owned by two different parties with the IP itself being in limbo as a result? and what about the actual studios involved? are they being pushed through the shitter so that publishers like EA can just profit on the individual games?

    fuck that shit.
    They'd surely have to mean IP by IP. It doesn't make any sense to sell off individual game licenses to different parties.
  • Ghostscape
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    Ghostscape polycounter lvl 13
    So, pardon my ignorance here, but if THQ's assets are sold off piecemeal, is there any conceivable way that people will retain their jobs? Any talk of purchasing studios instead of just IP and licencing?
    I'm guessing the reality is more likely that everything will be shuttered and liquidated, but I'm hoping that that's not the case, both for your guy's sake and for us recently layed off peeps. It's gettin crowded in the hot-tub! lol!

    Studios and IP are both assets. In the case of a successful series of games, keeping the IP and Studio paired together makes the most sense, as it minimizes risk. (ie Saints Row and Volition).

    In the case of unsuccessful series of games (games that are unprofitable/do not break even), the IP has value but it can make sense to give it to a new studio. (as was the decision made by THQ with Homefront 2 being shipped to Crytek UK and the dissolution of Kaos Studios). Additionally, perhaps the buyer thinks there is a core team at the studio that can deliver a good game, but chooses to cut a lot of positions to reshape the company.

    In the case of a studio that has a famous talent or pedigree that could have some merit, you might see someone pick up a studio independent of an IP (although this seems unlikely). Maybe someone would pick up Vigil hoping to pick up their art style, but dump other parts of the team, or maybe someone wants to pick up Relic to make iOS RTS games.

    I think those are pretty much all of the possible outcomes. Even in the case of a studio and their flagship IP being picked up, you can still have jobs trimmed. There are going to be lost jobs no matter how it comes down, and everyone under the THQ umbrella should be considering their position underneath it and how wet they're likely to get.

    While it sucks for all of the potential jobs lost, it staying together and being sold to Clearlake doesn't mean that Clearlake couldn't sell off or close down studios after the sale, either.

    Clearlake currently has a bid for all of THQ at $60m. THQ's assets were valued at $200m by THQ, and their debt is $250m. It is likely that selling off THQ piecemeal will result in more than $60m in sales, which will pay the creditors.

    e: no one is going to buy DS1 and not DS2 - there is probably very little value in owning the rights to any individual title compared to an IP.
  • almighty_gir
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    almighty_gir ngon master
    i agree it wouldn't make much sense, but the reason i questioned it was this:
    franchises should be sold on a title-by-title basis, not as a complete series.
  • Ghostscape
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    Ghostscape polycounter lvl 13
    i agree it wouldn't make much sense, but the reason i questioned it was this:

    That is bad wording on polygon's part. They are using the term "title" to refer to IP, and "as a whole" to refer to THQI.
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