With the B-word and the company’s financial history this year, speculation and rumors have been running rampant on the internet about THQ’s imminent demise. But THQ’s President, Jason Rubin, is responding to the mass with a community message addressed to the entire global gaming community.
In short: stop worrying, stop preaching doom: THQ will [probably] be fine.
Rubin’s primary message is to remind gamers that bankruptcy doesn’t always equal defeat. THQ has filed Chapter 11 bankruptcy, “a safety net for U.S. companies” as Rubin puts it. Rubin is also quick to point out that THQ is not the first company to go bankrupt, and that many distinguished franchises have survived, such as Macy’s, MGM, and Marvel Studios (which, if it’s several successful movies haven’t indicated, is doing exceptionally well nowadays).
The Chapter 11 bankruptcy will allow bidders to make competitive offers on THQ, one of which is a private equity firm named Clearlake Capital Group. The firm has already invested much in THQ, allowing things to run business as usual for THQ employees so far. But this does not stop THQ from taking offers from other bidders if it gets a better offer.
While Rubin hopes that most of–if not all of–the current THQ teams (like Relic, THQ Montreal, Vigil, and Volition) will end up together, it is possible that the studios and intellectual properties can be split up. But for now things seem stable, and Rubin believes all of their current projects will be released with minimal fuss, meaning gamers can still preorder Last Light, Company of Heroes 2, and South Park: The Stick of Truth. He also has confirmed work on certain rumored titles (though not how far along they are in development), like Saints Row 4, a Homefront sequel, and more.
You can read the full message on THQ’s website: for more news on THQ’s development post-Chapter 11, stay tuned to DualShockers.com.