Future of THQ games could be settled by Jan. 23

The future of publisher THQ could be decided by Jan. 23, one day after the auction that will disperse the company's assets and titles, according to the company's CEO.

THQ's franchises will be broken up and sold title-by-title, with all bids due by 9 a.m. ET on Jan. 22. The auction will take place at 3 p.m. the same day, with a hearing scheduled for the following morning at 9:30 a.m. The auction's closing will take place on Jan. 24.

"Today's ruling provides a clear path. We will now know definitively by Jan. 23rd where we stand," said THQ chairman and CEO Brian Farrell in a statement, referring to Monday's ruling approving piecemeal sale of the company's games. "We appreciate the support of our employees, partners, and suppliers now more than ever."

THQ received approval for the sale in a Delaware Bankruptcy Court yesterday following an agreement between potential buyers and a committee representing the company's unsecured creditors. The Court also approved procedures for parties to bid on individual assets as well as the entire company. However, bids made for individual assets will only be considered over an aggregate bid for the entire company if separate sales generated by assets exceed an individual bidder's offer for the entire company.

Clearlake Capital Group's bid for the company as a whole was approved by the Court as the opening bid.

More from Polygon

German and Russian armor clash in Combat Mission: Red Thunder

  • Tour the 1 KB hard drive built inside Minecraft

  • Enemy Starfighter: Homeworld from inside a fighter

  • Call of Duty: Advanced Warfare gameplay trailer

  • Diablo 3 - Xbox One vs. PC comparison

Latest Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new Polygon username and password

As part of the new Polygon launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to Polygon going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new Polygon username and password

As part of the new Polygon launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to Polygon going forward.

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_5353_tracker