THQ’s bankruptcy saga continued with another hearing today to determine whether the publisher would be forced to sell its franchises individually or in one big chunk. Sadly, the ruling appears to spell the end of THQ as we know it.
U.S. Bankruptcy Judge Mary F. Walrath ruled in favor of the complainants and decreed that THQ must sell off its assets on an individual “title-by-title” basis to maximize the value creditors will receive for them. Potential suitors (including WB Games, EA, and possibly Ubisoft) will have a chance to bid on the company’s pieces and parts during an auction scheduled for January 22.
Even after their sale of the UFC license to EA last year, THQ still owns a variety of major game franchises including Saints Row, Darksiders, Homefront, and the WWE Wrestling license.
[Source: Distressed Debt Investing’s Twitter (via Polygon)]
