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South Park: The Stick of Truth
THQ Files For Bankruptcy, Unannounced Games Revealed
Written Thursday, December 20, 2012 By Lee Bradley
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THQ has filed for bankruptcy, as part of a plan to sell all of the company’s games and assets to private investment firm Clearlake Capital Group for $60 million.

The publisher says that bankruptcy is a positive step that will enable the sale of the company and hopefully ensure that its in-development titles make it to shelves.

As part of the agreement THQ will sell its "four owned studios and games in development". The plan is for the publisher to continue working as normal during the sale process.

"The sale [of the company] needs to be completed through a Chapter 11 proceeding of the Bankruptcy code," THQ president Jason Rubin explained in an open letter.

"The most important thing to understand is that Chapter 11 does not mean the end of the THQ story or the end of the titles you love. Quite the opposite is true, actually.

"Chapter 11 is a safety net for U.S. companies. American Airlines is currently in Chapter 11 restructuring, yet I flew back and forth on that airline when I visited Volition two weeks ago. Donald Trump and his companies have been in Chapter 11 four times. 

"You can add to that list household names such as Macy's, Eddie Bauer, the Chicago Cubs, Chrysler, Delta Airlines, General Motors, the Pittsburgh Penguins, Marvel Studios, and MGM, among many others.

"MGM filed Chapter 11 two years ago, and this year it released Skyfall and The Hobbit, two of the biggest titles of the year. That's what I mean when I say new start!

"Whatever happens, the teams and products look likely to end up together and in good hands. That means you can still pre-order Metro: Last Light, Company of Heroes 2, and South Park: The Stick of Truth.

"Our teams are still working on those titles as you read this, and all other rumored titles, like the fourth Saints Row, the Homefront sequel, and a lot more are also still in the works."

Indeed, tucked away in THQ’s bankruptcy filing are details on every game the company has in development, including projected sales numbers.

The list reveals that the four THQ-owned studios, Turtle Rock, THQ Montreal, Relic Entertainment and Vigil Games, are all working on new, unannounced IP. And though we know little about the contents of these games, we do know their working titles.

Left 4 Dead creator Turtle Rock Studios is developing a co-op action game called ‘Evolve,’ THQ Montreal - led by Assassin's Creed creative lead Patrice Désilets - is working on something called ‘1666,’ Space Marine developer Relic Entertainment is making a game called ‘Atlas,’ and Darksiders dev Vigil Games is working on ‘Crawler’ alongside Saints Row 4.

You can see THQ’s predictions for its upcoming slate of games below, in an image taken direct from THQ’s bankruptcy filing.

 

[via AGB]




 
 

User Comments
 
Forum Posts: 319
Comment #1 by Aboelsas
Thursday, December 20, 2012 @ 08:17:06 AM
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well i hope they survive this there are too many gaming companies out there still THQ is a great one that we don't want to lose !!

 
Forum Posts: 138
Comment #2 by gaviota1195
Thursday, December 20, 2012 @ 08:17:46 AM
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R.I.P THQ ;( I hope that your games make it to the stores so that we can remember you with your final products. BTW, what happened to you guys that made you shut down the studio? I know it has to do with bankruptcy, but what was the cause of it?

 
Forum Posts: 2965
Comment #3 by dante_kinkade
Thursday, December 20, 2012 @ 08:18:12 AM
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I hope that this helps pull them out f the red (it is red right, not the black?) but I know that alot of those games on that list I want to get alot, namely Homefront 2, Metro and Evolve.

*goes to look up some info on 1666 and Atlas*

 
Forum Posts: 49
Comment #4 by BrunoBomb16
Thursday, December 20, 2012 @ 08:33:55 AM
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I'm still waiting for the wrestlemania edition of wwe'13 and a oppurtunity to buy darksiders 2, but thq is a great company and will be sad if they are gone.

 
Forum Posts: 1049
Comment #5 by Figure
Thursday, December 20, 2012 @ 08:46:17 AM
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Hope they survive in the long run. SR4!

 
Forum Posts: 108
Comment #6 by Spraragen88
Thursday, December 20, 2012 @ 08:52:16 AM
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What assholes, the whole "Indie Bundle" thing was a scam for them to pocket $5 million which they donate to charity then get a large amount of that back as a tax credit/write off. That is money bankruptcy can't touch because its was a "charity" fund raiser even though money went directly to THQ. So they file for bankruptcy and have to fire a ton of people while the top 3 guys get to share that $5 million in their pockets while they get to lay off a bunch of people for the holidays. Its sick and nobody should support these assholes.

 
Forum Posts: 414
Comment #7 by theghostsi
Thursday, December 20, 2012 @ 09:41:37 AM
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I would love to get south park game

 
Forum Posts: 25
Comment #8 by Zeothedeathgod
Thursday, December 20, 2012 @ 10:24:03 AM
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@6 they are actually trying to keep everybody, nobody has been fired or anything yet. This wasnt their plan as you seem to think for whatever reason. I personally love THQ and have loved most of their games, to see them going down is really sad.

 
Forum Posts: 23
Comment #9 by HEMSTAR
Thursday, December 20, 2012 @ 10:46:31 AM
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Its terrible to see a big publisher go under :( if only activision would trade places with them :) nah just joking. Yes still the possibility of a homefront sequel, hope its gonna run on cryengine 3 as they said it would when they announced it and i cant wait for south park and saints 4, metro looks interesting as well.

 
Forum Posts: 120
Comment #10 by ryandavison
Thursday, December 20, 2012 @ 11:35:45 AM
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I really wished that this would cause THQ to cancel South Park, but unfortunatly that won't happen

 
Forum Posts: 611
Comment #11 by Lyrikk
Thursday, December 20, 2012 @ 01:34:39 PM
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I really hope they make it out of this, THQ is amongst my favorite companies... They don't deserve to be shot down... THQ has my respect and I hope they pull through. I really want South Park, Metro Last Light, Saints Row 4 and for them to make a Darksiders 3. =(

 
Forum Posts: 11
Comment #12 by FatalKrouzer
Thursday, December 20, 2012 @ 02:05:26 PM
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I think they meant WWE'14

 
Forum Posts: 24910
Comment #13 by mjc0961
Thursday, December 20, 2012 @ 02:17:29 PM
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Why is everything in the chart either in millimeters or dollar millimeters? Learn to make a chart that's labeled properly, THQ. This kind of shit is why you have to file for bankruptcy in the first place.

 
Forum Posts: 1570
Comment #14 by AverySegaw
Thursday, December 20, 2012 @ 02:34:02 PM
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@13 MM is the financial abbreviation for million (for those who may not know, M = 1000, so 1,000 x 1,000 = 1,000,000). If anything they failed to capitalize the Ms which does give your point some validity.


I don't know why, but I can't see Homefront 2 selling 4 million. The other numbers seem possible. Well, this is your last chance THQ, so it's time to get serious.

 
Forum Posts: 1986
Comment #15 by c1ned1ne
Thursday, December 20, 2012 @ 02:35:07 PM
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@13: Exactly my first thoughts. No wonder they file for Chapter 11 if that's the progress ^^

@6: Ever bought a Humble Bundle? Your money is divided into 3 splits - for charity, for the developers and for the Humble-guys. You can even choose how your money is to be distributed. That means you "mark" your money and it has to go were it is supposed to. The 5M USD were the total.
I guess it's too much to ask to do some research before flaming

 
Forum Posts: 0
Comment #16 by Uchiha Itachi
Thursday, December 20, 2012 @ 03:00:57 PM
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i hope they get through this and stay alive its so sad to see good publishers going bankrupt.

 
Forum Posts: 13
Comment #17 by bowskillz
Thursday, December 20, 2012 @ 03:24:51 PM
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@10
why it looks like a great game and SR4 looks awesome

 
Forum Posts: 471
Comment #18 by The Cosmic Suff
Thursday, December 20, 2012 @ 04:13:02 PM
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I really want South Park. It looks incredible.

WWE games should see the change of developer imo. THQ/Yukes just cant deliver enough and the fans keep getting dissappointed. WWE '13 is quite the fiasco.

 
Forum Posts: 156
Comment #19 by Kuruz
Thursday, December 20, 2012 @ 07:35:04 PM
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To those that don't know, the idea of the THQ Humble Bundle wasn't there last chance at getting a few extra dollars. Stocks for THQ skyrocketed after a few days of the Humble Bundle, almost like 50% or something. Higher stock value meant better gains and an easier chance to sell for THQ. I believe they were planning on this before they even did the Bundle.

 
Forum Posts: 31
Comment #20 by EpicLoots
Thursday, December 20, 2012 @ 08:40:19 PM
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no wonder, looking at the game list... every game sucked besides maybe Darksiders 2. Companies need to start understanding to put more quality into their games and not just quantity. How many of us had wasted hundreds and thousands of dollars on crappy games that only backed up with lame and pointless DLC that should had been IN the game the first place. You wont be missed THQ.

 
Forum Posts: 31
Comment #21 by EpicLoots
Thursday, December 20, 2012 @ 08:42:57 PM
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@6 The world is filled with sick greedy sick people. That is why we have 12/21/2012. God will pass judgement upon the wicked.

 
Forum Posts: 212
Comment #22 by randomguy666
Friday, December 21, 2012 @ 03:12:09 AM
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@21 yeah... forgive me if i call bull**** on that one

still, a very sad day. THQ were one of my favourite companies, and I really hope that who-ever takes over the IP's will keep true to what THQ stood for - Good games that were properly finished, and not filled with a metric ton of DLC

 
Forum Posts: 291
Comment #23 by brandaman69
Friday, December 21, 2012 @ 03:16:15 AM
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This is the stupidest comments section EVER.

 
Forum Posts: 160
Comment #24 by cameronneil101
Monday, December 24, 2012 @ 04:48:16 PM
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@23 agree !!!

 
Forum Posts: 160
Comment #25 by cameronneil101
Monday, December 24, 2012 @ 04:49:24 PM
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@ 21 merry Christmas lol!

 
Forum Posts: 0
Comment #26 by KennyCartman
Monday, December 31, 2012 @ 12:16:07 AM
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I feel bad for THQ, but I really hope this doesn't hurt the quality of the South Park game. I've been eagerly awaiting it for a year now.


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Game Info
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Ubisoft
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Release:

US March 04, 2014
Europe March 06, 2014

Resolution: 480p, 720p
Sound: Dolby Digital
Players: 1
ESRB: Mature
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