THQ to be auctioned off title-by-title
In a drastic if somewhat unsurprising turn of events, bankrupt publisher THQ is now going to be auctioned off piece by piece.
As reported by DD Investing, the auction will take place on January 22, and all gaming properties, studios, and assets of the company will go to the highest bidders on a title-by-title basis.
A piecemeal auction scenario was something THQ president Jason Rubin worked hard to avoid, but last week a proposed quickie sale that would likely have seen the firm in the hands of Clearlake Capital was nixed by the courts ollowing creditor protests.
Electronic Arts is a likely bidder on some of the property, having completed site visits yesterday. Last year it acquired THQ's UFC licence.
Warner Bros indicated their interest last week.
Franchises up for grabs include Saints Row, Metro, Company of Heroes, South Park: The Stick of Truth, Homefront, as well as several WWE and Warhammer 40,000 licences.
This all means, of course, that come January 23, THQ will cease to exist.