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Post by Dan @ 11:09am 25/01/13 | 2 Comments
The bankruptcy court judge overseeing THQ's chapter 11 proceedings has signed the motion approving the sale to the successful bidders of yesterday's auction, sealing the deal on the dispersion of the company's assets to five competitors. An official statement from THQ elaborates on the results:
The Court approved the sales of three of THQ’s owned studios and games in development, as well as Evolve, a working title under development at Turtle Rock Studios, Homefront 2, Metro: Last Light and South Park: The Stick of Truth. Under the terms of the agreements with the successful and approved bidders, the THQ estate will receive approximately $72 million, making the total estimated value of the estate $100 million including certain assets and other intellectual properties which were excluded from the sale.

The Court approved the sale of Relic Studios to Sega Corporation for $26.6 million; the sale of Volition Inc. and Metro: Last Light to Koch Media GmbH for $22.3 million and $5.9 million, respectively; the sale of Homefront 2 to Crytek GmbH for $0.5 million; the sale of Evolve to Take-Two Interactive Software, Inc. for $10.9 million; and the sale of THQ Montreal and South Park: The Stick of Truth to Ubisoft LLC for $2.5 million and $3.3 million, respectively. Excluded from the sales were the company’s publishing businesses, Vigil Games, and certain other assets and intellectual properties, which will remain part of the THQ estate and will continue in the Chapter 11 process.
The estimated remaining $28 million of that $100 million estimated estate total is expected to come primarily from THQ's inactive properties, the legacy assets that include dormant franchises like Titan Quest, Destroy All Humans, deBlob, and Homeworld. THQ's statement notes that they "will continue to seek appropriate buyers, if possible".

In the case of Homeworld, some fans of the space-faring strategy series at St Louis-based studio teamPixel, have already mobilised on the matter, hoping to crowdfund their way into obtaining the rights with an aim to republishing the original game on Steam and GOG.com, and ambitiously developing a true sequel.

While the teamPixel team's experience in game development appears to be lacking, they seem to have at least done their homework on the legal process of bidding for the name and have already taken several steps to ensure they will be involved in the eventual auction. Find out more on their indiegogo page.



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Latest Comments
Khel
Posted 11:25am 25/1/13
Wow, Homefront 2 gets sold for only $500k and an unnanounced, untitled title in development at Turtle Rock costs $10.9 million. I dunno if that means Homefront 2 is s***, or this unnannounced title is f*****g awesome, or maybe a little of both.
joerocket10r
Posted 01:07pm 28/1/13
yeah strange. maybe turtle rock were working on a new engine?
mind the first homefront was s***
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