THQ files for bankruptcy

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Zenoth

Diamond Member
Jan 29, 2005
5,149
133
106
They seem to be dropping like flies unless they merge into some mega corporations. It's sad when you're a company like THQ, being both a publisher and a developer (well, having dev studios under the THQ banner anyway), having decent IPs (or good, subjective) to generate revenue from (I mean Company of Heroes, Warhammer 40K, Homefront, Darksiders, Red Faction, Saints Row... and don't they hold rights for potential FreeSpace titles too? ... and a few others I think) but you still fail.

Yeah it might take years but heh... looks like a jungle out there in the gaming industry. I do hope however that it's "just" a question of mismanagement. But, if that's there case, and if there's really nothing else behind it then... wow, they really do (did) have issues internally (I wouldn't trust them with managing a hundred bucks). Because, otherwise, what type of message as a consumer am I supposed to understand from that? That brand new games in the future will cost $100 so that almost any companies are assured to survive on their own? Or maybe they'll cost $100 because we'll be squeezed in some oligopoly publisher/developer market (which usually increases prices)?
 

Lonyo

Lifer
Aug 10, 2002
21,939
6
81
They seem to be dropping like flies unless they merge into some mega corporations. It's sad when you're a company like THQ, being both a publisher and a developer (well, having dev studios under the THQ banner anyway), having decent IPs (or good, subjective) to generate revenue from (I mean Company of Heroes, Warhammer 40K, Homefront, Darksiders, Red Faction, Saints Row... and don't they hold rights for potential FreeSpace titles too? ... and a few others I think) but you still fail.

Yeah it might take years but heh... looks like a jungle out there in the gaming industry. I do hope however that it's "just" a question of mismanagement. But, if that's there case, and if there's really nothing else behind it then... wow, they really do (did) have issues internally (I wouldn't trust them with managing a hundred bucks). Because, otherwise, what type of message as a consumer am I supposed to understand from that? That brand new games in the future will cost $100 so that almost any companies are assured to survive on their own? Or maybe they'll cost $100 because we'll be squeezed in some oligopoly publisher/developer market (which usually increases prices)?
Gross mismanagement, primarily due to things like uDraw, and focusing on kids, which pretty much killed them off.

http://arstechnica.com/gaming/2012/02/boom-to-bust-thqs-revolutionary-udraw-now-filling-warehouse-shelves/

http://venturebeat.com/2012/02/02/thq-ceo-admits-confidence-was-misplaced-on-childrens-video-games/

http://www.complex.com/video-games/2012/01/ex-thq-employee-fires-off-angry-letter-alleging-serious-mismanagement/page/1

The beginning of the end came years ago as Brian Farrell lead an executive team to acquire a large number of studios. A large amount of cash was used in the acquisition or setup of game developers with different degrees of talent. The problem was they were bought without strategic reasoning or specific plan on to use them. So after awhile another large amount of money was spent as those studios failed and were sold off and shut down.

The studio purchase errors were not helped by the mistakes in the licensing deals that were signed by the same CEO. Millions and millions of dollars were wasted on acquiring licenses at the same time the kids, family, casual business was declining at a rapid rate. Instead of slowing those acquisitions he overpaid for more of them until again cash was wasted in paying for brands that didn't sell well anymore.
 

MrA79

Member
Aug 11, 2012
199
1
76
THQ holds a special place in my part for a few very specific reasons. Titan Quest primarily, then the old N64 wcw\wwf wrestling games. Fan or not, those were some freaking awesome multiplayer titles.
 

sandorski

No Lifer
Oct 10, 1999
69,422
4,805
126
I hope the Saints Row franchise survives and that it continues on its' current path.
 

OlafSicky

Platinum Member
Feb 25, 2011
2,375
0
0
So what does it take money in the gaming industry. THQ looked like it had it all good titles publishing etc.
 

Martimus

Diamond Member
Apr 24, 2007
4,488
152
106
So what does it take money in the gaming industry. THQ looked like it had it all good titles publishing etc.
The document I posted showed that THQ took in $78.2M on Darksiders 2, but lost money since they spent ~$79M on that game. Really, THQ needs to control its costs better, since that game sold pretty well for the market.
 

EDUSAN

Golden Member
Apr 4, 2012
1,358
0
0
honestly... THQ has good IP rights, but the games are not THAT GOOD...

this week i played red faction armaggedon and it was good... but thats all... good, almost mediocre.
saints row the third, im playing it right now and its good... it has bugs, playing coop has a horrible, HORRIBLE glitch when you drive things, when you watch videos you dont see your coop partner, is annoying stuff... but the game was good, but also, closer to mediocre than excelent... and it costed 40-50 bucks when it was released.. its a 30 bucks game at the best.
Metro2033, a lot of people love it... when i played it i liked the atmosphere and story, but the shooting was bad... and its a fps... but its good... 6 or 7 points

What i mean is... THQ has been doing good games... but none of them is GREAT, none of them is GOTY material, its like they didnt even try too hard to make the games REALLY enjoyable

I hope that whoever buys the rights and make goods of the franchises really dedicates itself to making the games shine
 

Dankk

Diamond Member
Jul 7, 2008
5,558
25
91

Maximilian

Lifer
Feb 8, 2004
12,601
6
76
IGN has an article today that says Ubisoft is looking into buying THQ's assets. http://www.ign.com/articles/2012/12/21/ubisoft-reportedly-looking-to-buy-thq-assets?abthid=50d4967a6317e3372600002b

Get ready for Uplay on AC, CoH, etc.... :mad:
Ugh... where are the good publishers like bethesda and valve? They could do wonders with THQ's IP. Glad it only says ubisoft are a front runner, not that they've actually bought anything yet. Screw ubisoft, screw EA.

CoH 2 is steamworks and probably cant be converted to Ucrap. Other games they could make later on with THQ's IP.... yeah probably on Ugarbage :\
 

CPA

Elite Member
Nov 19, 2001
30,322
4
0
THQs bankruptcy documentation shows that Saints Row 4 is in development, and scheduled to be released in FY14. Of course the bankruptcy may change that.

Page 61 of this document ( http://www.kccllc.net/documents/8826100/8826100121219000000000002.pdf) gives you THQs cost projections for each of the software projects they are making.
Why are they showing COH2 development through 2015? I thought the game comes out next year? Wonder if it's due to expected expansions and DLC.
 

TehMac

Diamond Member
Aug 18, 2006
9,979
3
71
Apparently they have an investor at the last minute who bailed them out.

However, Relic is working on a game codenamed "Atlas" hrmmm...would love it to be an ancient/myth themed rts, but its probably a warhammer.
 
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