RSS Feeds NGN on Facebook NGN on Twitter NGN on YouTube
Thursday March 28, 2024
Header logo

THQ Auction results see major franchises sold

SEGA, Take Two, Ubisoft and more are involved as company assets are auctioned off

Posted on

The official results of today's THQ Auction are beginning to appear, with big moves being made to save major brands from the bankrupt publisher.

Reported by NeoGaf, a letter was sent to all THQ employees detailing the outcome.

The big movers are as follows. Sega agreed to purchase Relic studio (Company of Heroes, Warhammer 40k) for $26.6 million. Bethesda was the runner-up on the purchase with $26.3 million offer.

Koch Media agreed to purchase Volition studio (Saints Row) for $22 million. Ubisoft also made a $5 mil bid. Similar bidding war took place for the Metro franchise, also being purchased by Koch Media for $5.8 million over Ubisoft's offered $5.3 million.

Take 2 agreed purchase Evolve license for $10 million. Developers Turtle Rock tried to make a bid for their own game, with a $250k offer. Ubisoft agreed to purchase THQ Montreal studio ($2.5 mil, no other offers) and South Park license ($3 mil, no other offers).

Other transactions saw Crytek purchase Homefront ($500k, no other offers) and EA working on a WWE agreement.

Perhaps most surprising is the fate of Vigil studio (Darksiders), which was not sold today and thus could potentially be closed if no buyer steps up soon.

"We expect that most employees of the entities included in the sale will be offered employment by the new owners. However, we cannot say what these owners may intend, and there will likely be some positions that will not be needed under the new ownership. You should receive notice this week or early next week if the new owners intend to extend employment to you. Please note that the terms of your new employment, including pay and benefits, may be different from the current terms of your employment with THQ," read the letter from President Jason Rubin and CEO Brian Farrell. "If you are an employee of an entity that is not included in the sale, we regret that your position will end."

THQ Inc. was founded in 1989 in the United States, the company developed products for video game consoles, handheld game consoles, as well as for personal computers and wireless devices. Its name derives from "Toy Head-Quarters" during the time when the company was a toy manufacturer in the early 1990s.

Comments
Screens







Online
There are currently 0 members and 188 guests on the website right now.
Who's On?
Activity in the past 10 minutes:
  • 188 guests
Best News this Month
The Sinking City 2 announced
Sequel to Lovecraftian adventure game is coming in 2025

Posted 22 days ago
Frostpunk 2 launches on PC in July
Survival strategy game sequel will be out this summer
22 days ago
Stasis: Bone Totem coming to consoles
Adventure game will be ported shortly
14 days ago
Dragon Ball FighterZ gets free current gen patch
Xbox Series X and PS5 versions are out tomorrow
29 days ago
Free PlayStation Plus games for March 2024
Triple game offering, plus an expansion
29 days ago
Latest Comments
Alone in the Dark Review
Mar 21, 2024 by pilathe
Pity, was a chance to bring the franchise back to...
Stasis: Bone Totem coming to consoles
Mar 16, 2024 by fxvc
great game that i hope they adopt well for console...
Pacific Drive Review
Mar 13, 2024 by ecena
Added to my backlog. looks pretty fun
Turnip Boy Commits Tax Evasion Review
Mar 6, 2024 by nutguy6000
Turnip boy does say "stop." to crancran after you rip up...
Test Drive Unlimited Solar Crown - The Explorer...
Mar 4, 2024 by JamesJay
It will be difficult to stand out from the Forza Horizon...
New Game Network NGN Facebook NGN Twitter NGN Youtube NGN RSS