Rumors From the THQ Asset Auction

by Christopher Freeburn | January 23, 2013 10:31 am

bankruptcy next exit sign 630 flickr 300x239 Rumors From the THQ Asset Auction[1]Creditors for bankrupt video game developer THQ (PINK:THQI[2]) were permitted to observe an auction of the company’s assets on Tuesday[3]. The auction has sparked interest from a number of major gaming players, including Electronic Arts (NASDAQ:ERTS[4])¬†and Time Warner‘s (NYSE:TWX[5]) Warner Bros.

While any sales from the auction have yet to be publicly confirmed, Sega is rumored to have made the highest bid for the company’s Relic Games unit, which created the Dawn of War series, Now Gamer notes.

Insiders also say that Koch Media is the high bidder for THQ’s Saint’s Row game franchise, which was the company’s best selling series. Koch Media is the maker of the popular Dead Island games series. However, given Saint’s Row’s success, a number of other game makers are expected to bid on the series.

Reports indicate that THQ’s South Park video game may have been snapped up by Ubisoft. Other reports suggest that Ubisoft is also bidding heavily on other THQ assets.

THQ’s fortunes tumbled as it faced the rise of mobile apps for smartphones and tablets and social gaming apps[6] from Facebook (NASDAQ:FB[7]). It’s traditional gaming rivals were Activision Blizzard (NASDAQ:ATVI[8]) and Electronic Arts.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/07/bankruptcy_next_exit_sign_630_flickr.jpg
  2. THQI: http://studio-5.financialcontent.com/investplace/quote?Symbol=THQI
  3. permitted to observe an auction of the company’s assets on Tuesday: http://www.nowgamer.com/news/1778361/thq_assets_auction_what_we_know_so_far.html
  4. ERTS: http://studio-5.financialcontent.com/investplace/quote?Symbol=ERTS
  5. TWX: http://studio-5.financialcontent.com/investplace/quote?Symbol=TWX
  6. mobile apps for smartphones and tablets and social gaming apps: http://investorplace.com/2011/08/thq-video-games-social-gaming/
  7. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
  8. ATVI: http://studio-5.financialcontent.com/investplace/quote?Symbol=ATVI

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