THQ Agrees to Being Sold in Parts, EA Named As Interested Party
The auction of THQ’s IPs begins on January 23rd.
As is already known, THQ filed for bankruptcy not too long ago and will be auctioning off its IPs to interested bidders. Through a few twists and turns, it was revealed that the publisher could possibly be sold in separate parts.
However, the US bankruptcy court stated that THQ’s assets can be bought individually on the auction (which will be held on January 22nd) but those bids will only be considered if the value generated by separate sales exceeds the price offered by a single bidder for the entire company.
Brian Farrell, CEO of THQ stated, “Today’s ruling provides a clear path. We will now know definitively by Jan. 23rd where we stand. We appreciate the support of our employees, partners, and suppliers now more than ever.”
Bids are to be received by January 22nd at 9 AM Eastern Time with the auction being held at 3 PM and the hearing on the sale at 9:30 AM on January 23rd with closing on the 24th.
So far, Clearlake Capital has stated that they will buy THQ wholesale for $60 million USD. While Electronic Arts and Warner Bros. were stated to be interested, it’s now confirmed that the former is at least willing to go individual titles of the publisher.