THQ has gone under

[Coded-Dude]

Imagine if the creators of classic arcade games like Asteroids, Tank and Battlezone got together and decided to start making games for iPad. You'd have to wonder how their "old school" mindsets would translate to perhaps the most dynamic gaming platform our there. [...did anybody else lol? not just about the typo, but about the statement itself?]

Soon, we won't have to wonder, because a new video game company, led by former Xbox man Seamus Blackley, is combining the talents of 11 Atari (the original Atari) development superstars who will make games for Apple's tablet under publisher THQ.

Called Innovative Leisure, the team is made up of the creators and co-creators of some of the most recognizable video games of all time: Dennis Koble (Sprint 2), Rich Adam (Missile Command), Ed Logg (Asteroids), Lyle Rains (Tank), Bruce Merritt (Black Widow), Tim Skelly (Rip-Off), Owen Rubin (Major Havoc), Ed Rotberg (Battlezone), Bob Smith (Tanktics) and Rob Zdybel (RealSports Football).

gamasutra

[Viper]

THQ was dumb as fuck for thinking they were going to replicate the uDraw success from Wii to the HD consoles. They sold 2 million units on Wii and expected to sell something like 2.5-3 million on PS3/X360.

And Dusty, I thought THQ just said they were getting out of the mobile, casual kids stuff?

[solidsnakejej]

Next 17 games from THQ

UFC Undisputed - Xbox 360, PlayStation 3 - February 14, 2012

Darksiders II - Xbox 360, PlayStation 3, PC - June 2012

South Park: The Game - Xbox 360, PlayStation 3, PC - Q3 FY13

Annual WWE Game - TBA - Q3 FY13

Metro: Last Light - Xbox 360, PlayStation 3, PC - Q4 FY13

Devil’s Third - Xbox 360, PlayStation 3, PC - Q4 FY13

Two additional unannounced core projects, set for release FY13

Un-named Original Title - Turtle Rock Studio (external)

Dark Millennium Online - Vigil and Relic

inSANE - Volition

Homefront 2 - Crytek (external)

Patrice Désilets Original Title - THQ Montreal

Four additional unannounced core titles due for release in fiscal 2014 and beyond.

[solidsnakejej]

THQ loses $239.9 million and looking to sell of Devil's Third

THQ said the company developing the engine for Devil's Third went out of business. THQ had to step in.with a new engine for the game.

[solidsnakejej]

https://twitter.com/geoffkeighley/st...78579444314112

[solidsnakejej]

Jason Rubin now head of THQ thoughts of Saints Row 3, their best selling game

"Why couldn't that be a Red Dead Redemption or a Skyrim?" he said. "I look at that title and I say, ‘Who cares what it is and why it got to be what it is? From that team we can make something that isn't embarrassing."

Saints Row the Third isn't a bad game, but it's not the sort I'd want to play, I tell Rubin. Then I ask him if he thinks that's an issue.

"That's why I am here," he said, after saying he wants more from Volition, "because of what you just said."

To be clear, Rubin isn't saying there isn't any room in his company "for a game that features a purple dildo," in fact he points out there are now two such games (the other is South Park: The Stick of Truth). But that sensibility isn't always a good fit for a studio.

"It works for South Park, but I'm not sure it does elsewhere," he said. "I don't think (Volition) chose to do what they did because they had all of the options available to them. It was the environment at the time.

"Darksiders 2 is very interesting," he said, "but I think I can get that team to make other very interesting games."

http://www.theverge.com/gaming/2012/...12-jason-rubin

[BahnNZ]

Good lord, back from the dead... Thought he was working on his comic books.

[solidsnakejej]

Law firm investigating whether THQ knew the uDraw would fail because of differences between gamers of HD and Wii console

ATLANTA--(BUSINESS WIRE)--Holzer Holzer & Fistel, LLC is investigating potential violations of the federal securities laws by THQ, Inc. (“THQ” or the “Company”) (NASDAQ: THQI). The investigation focuses on whether a series of statements made between May 3, 2011 and February 3, 2012, inclusive, regarding the Company’s business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation seeks to determine, among other things, whether the Company knew but failed to timely disclose that demand for its uDraw™ GameTablet™ was below internal expectations in part due to differences between gamers who play video games on the Nintendo Wii and those who play games on Xbox360® and PlayStation®. On February 3, 2012, THQ announced it would no longer manufacture or sell the uDraw™ GameTablet.™ The Company previously pointed to expansion of the uDraw GameTablet to the Xbox360® and PlayStation® platforms as a source of expected revenue growth.

If you purchased THQ common stock between May 3, 2011 and February 3, 2012 and have questions concerning your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

http://www.businesswire.com/news/hom...estigation-THQ

For some reason that statement makes me laugh because it sounds like a fanboy argument.

[solidsnakejej]

Stock drops 46+% after announcement of delays and that the company is seeking more capital.
https://www.google.com/finance?client=ob&q=NASDAQ:THQI

[Viper]

Prime candidate for a major acquisition now.

Ubisoft....go get it.


Holy shit. I just pulled up THQ on Wikipedia to see what studios they had left that they might be able to sell off. I didn't realize how many studios they've already shut down.



Big Huge Games in Timonium, Maryland, founded in February 2000, acquired in January 2008, sold to 38 Studios in May 2009.
Concrete Games in Carlsbad, California, founded in 2004, closed January 2008.
Heavy Iron Studios in Los Angeles, California, founded in 1999, spun off in March 2009.
Helixe in Burlington, Massachusetts, founded in July 2000, closed November 2008.
Incinerator Studios in Carlsbad, California, founded in 2005, spun off in March 2009.
Locomotive Games in Santa Clara, California, founded as DT Productions in 1997, then Pacific Coast Power & Light, acquired in 1999, closed November 2010.
Mass Media in California, founded in the late 1980s, acquired in 2007, closed November 2008.
Outrage Games in Ann Arbor, MI, founded as Outrage Entertainment in December 1997, acquired April 4, 2002, closed in 2004.[25]
Paradigm Entertainment in Addison, Texas, founded in 1998, acquired from Atari in May 2006, closed November 2008.
Sandblast Games in Kirkland, Washington, founded in August 2002 as Cranky Pants Games, closed November 2008.
Universomo in Tampere, Finland, founded in 2002, acquired in May 2007, closed March 2, 2010.[26]
Kaos Studios in New York, NY, started in 2006. Closed June 13, 2011.
THQ Digital Studios UK in United Kingdom, founded as Juice Games in 2003, acquired in 2006, Closed June 13, 2011.[27]
Blue Tongue in Melbourne, Australia, founded in 1995, acquired in November 2004, closed 2011.
THQ Digital Phoenix in Arizona, founded as Rainbow Studios in 1996, acquired in 2001, Closed 2011.
THQ Studio Australia in Brisbane, Australia, started in January 2003, closed August 9, 2011.
ValuSoft in Minneapolis, MN, founded in 1997, acquired in 2002 and sold to Cosmi on 2012.
THQ Studio San Diego in San Diego, California, acquired from Midway Games in August 2009, closed June 4, 2012.[28]
THQ Asia Pacific in Melbourne, Victoria, Australia, founded in 2000 as THQ's Australian subsidiary, closing down late 2012-2013.[29] Was responsible for distribution of games from Sega of Europe from 2002 - 2007 and is currently responsible for distribution of Capcom Europe's products from 2009. THQ Asia Pacific was previously distributor for Capcom Europe in Australia from 2002-2007 when distribution was moved to Red Ant Enterprises who went bankrupt in 2009. [30]

[Segitz]

I know exactly one Studio by name of these... that is Kaos... quite the track record (although I haven't followed gaming all that much when most of those studios where in their prime)

[Viper]

I know exactly one Studio by name of these... that is Kaos... quite the track record (although I haven't followed gaming all that much when most of those studios where in their prime)

I'm willing to bet you know a lot of the games those studios put out. You just may not be familiar with the studios themselves.


Big Huge Games - Rise of Nations series and Age of Empires III.
Mass Media - Jak and Daxter Collection, Full Spectrum Warrior, provided assistance on Warhammer 40,000, Darksiders, Saints Row, Stuntman: Ignition.
Outrage Entertainment - Red Faction II and Descent 3
Paradigm Entertainment - Stuntman: Ignition.
Blue Tongue - deBlob and deBlob 2


Probably a lot of games from the PS2 era and before that you know as well. And a shit ton of licensed IP's. Marvel, Pixar, Nickelodeon, etc....

[Segitz]

I know those games, yes... but the studios I don't... that was quite the point I was trying to make^^ (as I said "I know one of those studios by name"). That's always sad for those studios... getting bought and then get your name thrown into oblivion.

[Viper]

The past 8 years have not been kind to many studios but THQ seems to have been the worst offender of the acquire and close syndrome over that time period.

I thought Sony and Microsoft were bad about it but that's just frikkin ridiculous. Not even EA is as bad as THQ. EA has only truly shut down 7 studios though just as many have been merged into other studios. THQ killing off twice as many just doesn't make any sense. Why even buy them?

[Segitz]

Why buy them? IP? Not sure what they have besides Darksiders... and that's not THAT big of a deal, tbh. The rest... well, there's not much else to talk about, really. That's what happens when half your stuff is licensed crap...

[solidsnakejej]

Why buy them? IP? Not sure what they have besides Darksiders... and that's not THAT big of a deal, tbh. The rest... well, there's not much else to talk about, really. That's what happens when half your stuff is licensed crap...

Darksiders
Saint's Row
Red Faction
Metro
Warhammer
Home World
Home Front
Company of Heroes

and publishing the South Park game

[Segitz]

That's really nothing major... if they had a BOMB like GTA or COD or BF... then we could talk. But none of these games come even CLOSE. (I did love CoH, back then, though). And Warhammer and South Park are both licensed IPs... nothing worth to THQ.

[solidsnakejej]

If they had games doing GTA, COD, or BF numbers they wouldn't be in trouble. Saints Row the third has done over 4 million, Darksiders and Metro 2033 did over 1 million, Considering they hardly market things get a big studio behind these titles and the can sell pretty big and they have a built in base.

[AC!D]

Their customer service is pretty bad. This is my experience for Darksiders 2. The game came with pre order DLC with the codes not working. For the online pass they give you a code for future single player DLC. The catch is that it's a code you enter at their website. When i eventually got the code entered after more problems they give a message that a code for PSN will be e-mailed to you on the day of release of said content. Guess what? A week after they supposedly sent the codes i finally get mine. But no wait i stupidly purchased the season pass before the game released thinking it would be great and now im waiting for a patch or fix because the season pass isn't working. I can go on and on about how one retailer got actual single player DLC not just weapons that the rest of us were denied or all the game breaking bugs that QA missed but you guys get the point i think. I think we are on patch number three or four now. Oh yeah for some reason i also had problems downloading the last patch. It only finally worked thanks to the auto PS plus updates.

So in conclusion i would say a bunch of monkeys are working at THE.

[solidsnakejej]

I'm not even gonna try to understand these terms I just know this is bad. Chances THQ lasts to the end of the year?
THQ in default with Wells Fargo over $50 million credit facility

Troubled publisher THQ dropped more potentially bad financial news on Friday, revealing that it was in "certain defaults" on a $50 million credit facility with lender Wells Fargo.

The Agoura Hills based publisher of Darksiders, Saints Row and WWE wrestling games wouldn't clarify the conditions of the credit facility it has defaulted on, but did report "loan availability on the Credit Facility was less than 12.5% of the maximum revolver amount," a technical default of the terms of the loan. THQ tells Polygon that Wells Fargo continues to fund its requests while the two parties discuss the terms of their credit agreement.

In a filing with the SEC, THQ says it was notified by Wells Fargo on Nov. 7 that "one or more events of default have occurred under the terms of the Credit Facility, including the failure to comply with financial covenants" for the most recent quarter.

THQ entered into the $50 million revolving credit facility with Wells Fargo in 2011. The company borrowed $21 million from that credit facility during its third quarter, which ended Sept. 30.

http://www.polygon.com/2012/11/10/36...redit-facility