THQ Inc. was an American
video game
Video games, also known as computer games, are electronic games that involves interaction with a user interface or input device such as a joystick, controller, keyboard, or motion sensing device to generate visual feedback. This fee ...
company based in
Agoura Hills, California
Agoura Hills () is a city in the Santa Monica Mountains region of Los Angeles County, California, United States. Its population was 20,330 at the 2010 census, which decreased to
20,299 in 2020. It is in the eastern Conejo Valley between the S ...
. It was founded in April 1990 by
Jack Friedman
Jack Friedman (July 9, 1939 – May 3, 2010) was an American entrepreneur, businessman, veteran of the toy and video game industries, and a philanthropist. Regarded as an influential member in the toy and video game industries, Friedman founded ...
, originally in
Calabasas, and became a
public company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
the following year through a
reverse merger takeover
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compan ...
. Initially working in the toy business, it expanded into the video game business through several acquisitions before shifting its focus away from toys entirely. THQ continued its trend of acquiring companies throughout the 2000s.
The company published both internally created and externally
license
A license (or licence) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).
A license is granted by a party (licensor) to another party (licensee) as an element of an agreeme ...
d content in its product
portfolio
Portfolio may refer to:
Objects
* Portfolio (briefcase), a type of briefcase
Collections
* Portfolio (finance), a collection of assets held by an institution or a private individual
* Artist's portfolio, a sample of an artist's work or a ...
. THQ's internally created game series included ''
Darksiders
''Darksiders'' is a hack and slash action-adventure video game franchise created by Vigil Games, now developed by Gunfire Games, which consists of some of the original members of Vigil. The series is set on a post-apocalyptic Earth, where mank ...
'', ''
De Blob
''De Blob'' (stylized as ''de BLOB'') is a puzzle-platform game. Players explore and liberate an alien city from the evil, monochromatic INKT Corporation that has taken over the city and outlawed all color and fun from daily life. Playing as Blob, ...
'', ''
Destroy All Humans!
''Destroy All Humans!'' is an open world action-adventure video game franchise that is designed as a parody of Cold War-era alien invasion films. '' Destroy All Humans!'' and '' Destroy All Humans! 2'' are available for the PlayStation 2 and Xbo ...
'', ''
MX vs. ATV
''MX vs. ATV'' is an American racing video game franchise developed by Rainbow Studios and published by THQ Nordic that focuses on off-road racing, as a crossover between THQ's ''MX'' trilogy and Sony's ''ATV Offroad Fury'' series. Early games i ...
'', ''
Red Faction
''Red Faction'' is a series of shooter video games developed by Volition and owned by Koch Media. Originating in 2001, the ''Red Faction'' games have spanned Microsoft Windows, macOS and consoles, including the PlayStation 2, GameCube, Xbox, P ...
'', and ''
Saints Row
''Saints Row'' is a series of action-adventure video games created by Volition and published by THQ and Deep Silver. The series follows the 3rd Street Saints, a fictional street gang originally operating out of the Saints Row district, hence ...
'', among others. The company also held exclusive, long-term licensing agreements with
sport
Sport pertains to any form of Competition, competitive physical activity or game that aims to use, maintain, or improve physical ability and Skill, skills while providing enjoyment to participants and, in some cases, entertainment to specta ...
s and
entertainment
Entertainment is a form of activity that holds the attention and interest of an audience or gives pleasure and delight. It can be an idea or a task, but is more likely to be one of the activities or events that have developed over thousa ...
content creators, such as
Disney
The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October ...
,
DreamWorks Animation
DreamWorks Animation LLC (DWA, also known as DreamWorks Animation Studios and simply known as DreamWorks) is an American animation studio that produces animated films and television programs and is a subsidiary of Universal Pictures, a division ...
,
Nickelodeon
Nickelodeon (often shortened to Nick) is an American pay television television channel, channel which launched on April 1, 1979, as the first cable channel for children. It is run by Paramount Global through its List of assets owned by Param ...
, and
WWE
World Wrestling Entertainment, Inc., d/b/a as WWE, is an American professional wrestling promotion. A global integrated media and entertainment company, WWE has also branched out into other fields, including film, American football, and vario ...
.
After years of financial struggles, stock value drop, and
debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The ...
, THQ filed for
Chapter 11 bankruptcy
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
in December 2012 and commenced
liquidation
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistrib ...
of its assets the following month. Several properties were
auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...
ed to other companies, while the remaining staff were laid off. The "THQ" trademark was eventually acquired by developer
Nordic Games
The Nordic Games were the first international multi-sport event that focused primarily on winter sports, and were held at varying intervals between 1901 and 1926. It was organized by Sweden's Swedish Central Association for the Promotion of ...
(which had also acquired some of THQ's auctioned-off properties) in 2014 and assumed the name "
THQ Nordic
THQ Nordic GmbH (formerly Nordic Games GmbH) is an Austrian video game publisher based in Vienna. Formed in 2011, it is a publishing subsidiary of Embracer Group. Originally named Nordic Games, as was the parent company, both companies were re ...
" in 2016, while continuing a variety of their franchises under said name.
History
Background and foundation (1990–1999)
THQ Inc. was founded by
LJN
LJN Toys Ltd. was an American toy company and video game publisher based in New York City. Founded in 1970 by Jack Friedman, the company was acquired by MCA Inc. in 1985, sold to Acclaim Entertainment in 1990, and dissolved in 1994. The toy d ...
co-founder
Jack Friedman
Jack Friedman (July 9, 1939 – May 3, 2010) was an American entrepreneur, businessman, veteran of the toy and video game industries, and a philanthropist. Regarded as an influential member in the toy and video game industries, Friedman founded ...
in April 1990.
"THQ" was an
initialism
An acronym is a word or name formed from the initial components of a longer name or phrase. Acronyms are usually formed from the initial letters of words, as in ''NATO'' (''North Atlantic Treaty Organization''), but sometimes use syllables, as ...
for Toy Headquarters.
THQ acquired New Ventures, a division of
Broderbund
Broderbund Software, Inc. (stylized as Brøderbund) was an American maker of video games, educational software, and productivity tools. Broderbund is best known for the 8-bit video game hits ''Choplifter'', ''Lode Runner'', ''Karateka'', and '' ...
, in September 1990. In 1991, Trinity Acquisition Corp agreed to acquire and merge with THQ in a
reverse merger takeover
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compan ...
.
The deal was a
stock swap
In corporate finance a stock swap is the exchange of one equity-based asset for another, where, during the merger or acquisition, the swap provides an opportunity to pay with stock rather than with cash; see .
Overview
The acquiring company e ...
valued at about $33 million, with THQ's shareholders owning 51.7% of the new entity. THQ's name was retained for the new company and Friedman was named as its president.
THQ then acquired video game developer Black Pearl Software of Chicago in 1993. Following the acquisition, THQ would use the Black Pearl Software name for their Sega games, while the Malibu Games name would be used for the Nintendo games.
THQ withdrew completely from the toy business in 1994 to focus solely on video game production.
Jack Friedman then left the company in 1995 to co-found the toy manufacturer
Jakks Pacific
Jakks Pacific, Inc. is an American company that designs and markets toys and consumer products, with a range of products that feature numerous children's toy licenses. The company is named after its founder, Jack Friedman, who had previously fou ...
. At the Winter CES 1995, THQ signed a deal with Electronic Arts to develop games for their 16-bit and 8-bit home consoles and handheld titles. From then on, the Black Pearl Software name would be used for 8-bit and 16-bit games, while THQ introduced the Kokopeli Digital Studios brand name for their 32-bit games. In 1997, THQ was reincorporated as a
Delaware Corporation
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most imp ...
,
and in 1999 acquired San Jose video game developer
Pacific Coast Power & Light
Locomotive Games, Inc. (formerly known as Pacific Coast Power & Light) was an American video game company based in Santa Clara, California. The studio was owned by THQ, the studio developed games for a variety of game machines and consoles, while ...
. In 1999, it signed a deal to publish ''
Power Rangers
''Power Rangers'' is an entertainment and merchandising franchise built around a live-action superhero television series, based on the Japanese tokusatsu franchise ''Super Sentai''. Produced first by Saban Entertainment, second by BVS Entert ...
'' video games. Also that year, it signed a licensing agreement with British game developer
Codemasters
The Codemasters Software Company Limited (trade name: Codemasters) is a British video game developer based in Southam, England, which is a subsidiary of American corporation Electronic Arts. Founded by brothers Richard and David Darling in Octo ...
to bring their titles to their handheld market.
Company growth and acquisitions (2000–2009)
![THQ logo](https://upload.wikimedia.org/wikipedia/commons/f/f3/THQ_logo.svg)
In February 2000, THQ faced a class action lawsuit over federal security laws violation due to nondisclosure of material information. In September of the same year, the company expanded its internal product development capabilities with the acquisition of
Volition located in
Champaign, Illinois
Champaign ( ) is a city in Champaign County, Illinois, United States. The population was 88,302 at the 2020 census. It is the tenth-most populous municipality in Illinois and the fourth most populous city in Illinois outside the Chicago metropo ...
. Since then, THQ's internal studio system grew to eleven studios across the globe with distinct capabilities across all viable gaming platforms. Some of these studios, such as
Relic Entertainment
Relic Entertainment Inc. (formerly known as THQ Canada Inc.) is a Canadian video game developer based in Vancouver, founded in 1997. The studio specializes in real-time strategy games and is known for series such as ''Homeworld'', '' Warhammer 40 ...
,
Vigil Games
Vigil Games was an American game development company owned by THQ. It was formed by comic artist Joe Madureira and David Adams (video game designer), David Adams in 2005.
History
Vigil Games was founded in 2005 by Joe Madureira, David Adams, Mar ...
,
Blue Tongue Entertainment
Blue Tongue Entertainment Pty, Ltd. was an Australian video game developer founded in 1995. It was acquired by THQ on 17 November 2004, and remained an internal development studio of THQ until its closure in August 2011. In addition to THQ, Blu ...
, Juice Games,
Kaos Studios
Kaos Studios was an American video game developer based in New York City, New York. Founded in 2006, the company was most known for developing '' Frontlines: Fuel of War'' (2008) and '' Homefront'' (2011). It was a subsidiary of publisher THQ u ...
and
Volition, worked on games for next generation consoles as well as PCs. THQ went on to acquire
Vigil Games
Vigil Games was an American game development company owned by THQ. It was formed by comic artist Joe Madureira and David Adams (video game designer), David Adams in 2005.
History
Vigil Games was founded in 2005 by Joe Madureira, David Adams, Mar ...
in 2006.
In 2000, it signed a deal with
Fox Interactive
Fox Interactive was an American video game publisher based in Los Angeles, California. The company published games based on 20th Century Fox properties, yet also published several original titles, such as '' Croc: Legend of the Gobbos''.
History ...
to bring five of the titles to the
Game Boy Color
The (commonly abbreviated as GBC) is a handheld game console, manufactured by Nintendo, which was released in Japan on October 21, 1998 and to international markets that November. It is the successor to the Game Boy and is part of the Game ...
market, such as the ''
Croc
Croc or CROC may refer to:
Arts, entertainment, and media Gaming
* Croc (game designer), a French video game designer
* '' Croc: Legend of the Gobbos'', a 3D platform video game
** ''Croc'' (2000 video game), a 2D sidescrolling port of the abov ...
'' franchise. In 2001, THQ obtained an extended agreement with
Nickelodeon
Nickelodeon (often shortened to Nick) is an American pay television television channel, channel which launched on April 1, 1979, as the first cable channel for children. It is run by Paramount Global through its List of assets owned by Param ...
to produce video games based on their franchises, as well as computer game rights to ''
Rugrats
''Rugrats'' is an American animated television series created by Arlene Klasky, Gábor Csupó, and Paul Germain for Nickelodeon. The show focuses on a group of toddlers; most prominently— Tommy, Chuckie, Angelica, and twins Phil and Lil, ...
'', ''
SpongeBob SquarePants
''SpongeBob SquarePants'' (or simply ''SpongeBob'') is an American animated comedy television series created by marine science educator and animator Stephen Hillenburg for Nickelodeon. It chronicles the adventures of the title character a ...
'' and ''
Rocket Power
''Rocket Power'' is an American animated television series created by Arlene Klasky and Gábor Csupó, the creators of ''Rugrats''. The series aired on Nickelodeon from August 16, 1999 to July 30, 2004.
Premise
''Rocket Power'' revolves around t ...
'' and console and computer rights to other Nickelodeon shows like ''
Jimmy Neutron: Boy Genius'' and ''
The Wild Thornberrys
''The Wild Thornberrys'' is an American animated series, animated television series created by Arlene Klasky, Gábor Csupó, Steve Pepoon, David Silverman (animator), David Silverman, and Stephen Sustarsic for Nickelodeon. The series portrays a ...
''. The agreement also covered games based on original intellectual properties, such as ''
Tak and the Power of Juju
''Tak and the Power of Juju'' is an action-adventure platforming video game developed by Avalanche Software and published by THQ for the GameCube, PlayStation 2 and Game Boy Advance. The game was released in North America on October 15, 2003 and ...
'', with the potential that THQ would release a game first, followed by an animated cartoon on Nickelodeon.
On May 10, 2007, THQ reported its highest annual sales figures and net profits ever for the fiscal year which ended on March 31. THQ's revenues reached over $1 billion. In March 2008, THQ announced the development of the world's first ever cheerleading game using the
Wii Balance Board
The is an accessory for the Wii and Wii U video game consoles. Unlike the usual balance board for exercise, it does not rock but instead tracks the user's center of balance. Along with Wii Fit, it was introduced on July 11, 2007 at the Electr ...
. Not long after, on November 3, 2008, the company closed five of its internal studios:
Paradigm Entertainment
Paradigm Entertainment Inc. (previously part of Paradigm Simulation) was an American video game development company. Paradigm is perhaps best known for its vehicle simulation games. Founded as a 3D computer graphics company in 1990, Paradigm pri ...
,
Mass Media Inc.
Mass Media, Inc. is an American video game developer based in Moorpark, California.
History
Mass Media began in the 1980s at Cinemaware. In 1991, they formed a production unit called Philips P.O.V. Entertainment Group. Mass Media left Philips i ...
,
Helixe
THQ Inc. was an American video game company based in Agoura Hills, California. It was founded in April 1990 by Jack Friedman, originally in Calabasas, and became a public company the following year through a reverse merger takeover. Initia ...
,
Locomotive Games
Locomotive Games, Inc. (formerly known as Pacific Coast Power & Light) was an American video game company based in Santa Clara, California. The studio was owned by THQ, the studio developed games for a variety of game machines and consoles, while ...
, and Sandblast Games.
In 2009, huge declines in sales prompted THQ to form a strategic plan to cut $220 million in annual costs by 2010 and invest in "fewer, better bets." Previously in 2007, THQ had a $68-million profit and $1 billion in revenue, which put it within range of their rival
Activision
Activision Publishing, Inc. is an American video game publisher based in Santa Monica, California. It serves as the publishing business for its parent company, Activision Blizzard, and consists of several subsidiary studios. Activision is one o ...
. Many of its big-budget games sold poorly, despite having favorable reviews, as
the recession
''The Recession'' is the fifth studio album by American rapper Jeezy (known at the time as Young Jeezy). It was released on September 2, 2008, by Corporate Thugz, Corporate Thugz Entertainment (CTE) and Def Jam South, Def Jam South Recordings. Th ...
hit. Its hold on kids' games based on Nickelodeon TV shows and Pixar movies slipped as kids turned to free online games playable on the Internet. With shares down 86% from the previous year and a market value of only $173 million, THQ had the possibility of being acquired by other companies. In March 2009, THQ spun off
Heavy Iron Studios
Heavy Iron Studios, Inc. is an American video game developer based in Manhattan Beach, California. The studio was founded within THQ in August 1999 after the publisher acquired Steve Gray's Chemistry Entertainment. As part of a series of cost ...
and
Incinerator Studios
Incinerator Studios was an American video game developer, based in Carlsbad, California, known for developing several racing games, three based on the animated film franchise ''Cars'' and one ''MX vs. ATV'' game, with all four of them featurin ...
as independent companies, and announced it was looking to sell
Big Huge Games
Big Huge Games, Inc. is an American video game developer based in Timonium, Maryland since 2000, known first for real-time strategy games such as ''Rise of Nations'', later for the console RPG '' Kingdoms of Amalur: Reckoning'', and more recentl ...
. Two months later in May 2009, THQ agreed to sell
Big Huge Games
Big Huge Games, Inc. is an American video game developer based in Timonium, Maryland since 2000, known first for real-time strategy games such as ''Rise of Nations'', later for the console RPG '' Kingdoms of Amalur: Reckoning'', and more recentl ...
to
38 Studios
38 Studios, LLC, formerly Green Monster Games, LLC, was an American entertainment and intellectual property, IP development company founded in 2006 by Major League Baseball player Curt Schilling and named for his jersey number. Originally based in ...
. In August 2009, THQ acquired Midway Studios San Diego for $200,000. The sale of the studio included all assets, except for the ''
TNA Impact!
''Impact!'' (stylized as ''IMPACT!''), also known as ''IMPACT! on AXS TV'',
is an American professional wrestling television program produced by the American promotion Impact Wrestling (formerly known as Total Nonstop Action Wrestling (TNA)) tha ...
'' video game.
Reorganization, financial struggles (2010–2012)
In February 2010, THQ announced that Juice Games and Rainbow Studios would be part of a reshuffle, and would now bear the title THQ Digital Warrington and
THQ Digital Phoenix, respectively. The merger reportedly led to 60 job losses between THQ's US Rainbow studio and the UK Juice Game's studio.
In August 2010, THQ unveiled the
uDraw GameTablet
The uDraw GameTablet is a gaming graphics tablet released by THQ for the Wii in 2010, and for the PlayStation 3 and Xbox 360 in 2011. It has a pressure-sensitive stylus which allows users to draw and view their creations on screen. The tablet is ...
, a $70 accessory for Nintendo's
Wii
The Wii ( ) is a home video game console developed and marketed by Nintendo. It was released on November 19, 2006, in North America and in December 2006 for most other Regional lockout, regions of the world. It is Nintendo's fifth major ho ...
console that let gamers draw and play on their television screens. The white, 9-by-7-inch peripheral houses a
Wii Remote
The Wii Remote, also known colloquially as the Wiimote, is the primary game controller for Nintendo's Wii home video game console. An essential capability of the Wii Remote is its motion sensing capability, which allows the user to interact with ...
on the left, with a doodle pad and tethered stylus on the right. THQ said more software for the uDraw would launch every couple of months.
In January 2011, THQ sold off its THQ Wireless division to a Swedish mobile company called 24MAS. On January 12, 2011, THQ unveiled its new logo. In March 2011, THQ, after its game ''
Homefront'' was released, suffered a 26% stock drop. The large drop was speculated to be a result of ''Homefront''
's poor reception.
On June 13, 2011, THQ announced the closure of
Kaos Studios
Kaos Studios was an American video game developer based in New York City, New York. Founded in 2006, the company was most known for developing '' Frontlines: Fuel of War'' (2008) and '' Homefront'' (2011). It was a subsidiary of publisher THQ u ...
(the developer of ''Homefront'') and THQ Digital Warrington (formerly Juice Games).
On July 27, 2011, THQ announced it was dropping the long-running ''
Red Faction
''Red Faction'' is a series of shooter video games developed by Volition and owned by Koch Media. Originating in 2001, the ''Red Faction'' games have spanned Microsoft Windows, macOS and consoles, including the PlayStation 2, GameCube, Xbox, P ...
'' franchise. This was believed to be due to the poor reception over the latest game in the franchise, ''
Red Faction: Armageddon''. In the same year on August 9, 2011, THQ announced it would shift its development focus away from licensed kids and movie-based titles by closing down
THQ Studio Australia
THQ Studio Australia was one of the subsidiaries of electronic game publisher THQ. Based in Brisbane, Australia, the studio have developed titles for the Sixth generation of video game consoles, Sixth and Seventh generation of video game console ...
and
Blue Tongue in order to focus on "high-quality owned
IP." The company also closed down THQ Digital Phoenix (formerly Rainbow Studios), thus dropping the ''
MX vs. ATV
''MX vs. ATV'' is an American racing video game franchise developed by Rainbow Studios and published by THQ Nordic that focuses on off-road racing, as a crossover between THQ's ''MX'' trilogy and Sony's ''ATV Offroad Fury'' series. Early games i ...
'' franchise.
In November 2011, a uDraw for the PlayStation 3 and Xbox 360 was released. However, it was a commercial failure, and is considered one of the main causes of the financial woes that broke up the company.
In January 2012, THQ announced that it was exiting the licensed kids game business to focus on adult core gaming, but would continue to sell previously released titles. In February 2012, THQ also discontinued the uDraw GameTablet for the same reason.
In May 2012, THQ reported a net loss of $239.9 million for the fiscal year ending March 31, 2012. The loss was $100 million more than the previous fiscal year's loss of $136.1 million. That same month,
Jason Rubin
Jason Rubin (born 1970) is an American video game director, writer, and comic book creator. He is best known for the ''Crash Bandicoot'' and ''Jak and Daxter'' series of games which were produced by Naughty Dog, the game development studio he co- ...
was appointed president of the company.
THQ filed a notice with the SEC on May 25 for a June 29 stockholder's meeting, where THQ asked stockholders to approve a reverse split of the company's common stock. On June 4, 2012, THQ announced a deal to turn over their license for
UFC
The Ultimate Fighting Championship (UFC) is an American mixed martial arts (MMA) promotion company based in Las Vegas, Nevada. It is owned and operated by Zuffa, a wholly owned subsidiary of Endeavor Group Holdings. It is the largest MMA ...
games to
Electronic Arts
Electronic Arts Inc. (EA) is an American video game company headquartered in Redwood City, California. Founded in May 1982 by Apple employee Trip Hawkins, the company was a pioneer of the early home computer game industry and promoted the d ...
. In July 2012, THQ reported that its stockholders had approved the 1-for-10 reverse share split of its common stock to avert a delisting from the NASDAQ.
Bankruptcy and liquidation, THQ Nordic (2012–2013)
On November 13, 2012, THQ reported that they could not repay a $50 million loan from
Wells Fargo
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and intern ...
, and were on the verge of
Chapter 11 bankruptcy
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
. With its stock price plummeting from early November values bordering on $3 down to $1.16 and with long-term liabilities of $250 million, THQ was forced to delay the release dates of its flagship titles ''
Company of Heroes 2
''Company of Heroes 2'' is a real-time strategy video game developed by Relic Entertainment and published by Sega for Windows, Linux, and OS X. It is the sequel to the 2006 game '' Company of Heroes''. As with the original ''Company of Heroes'', ...
'' and ''
Metro: Last Light'' to March 2013. On November 29, 2012, THQ partnered with
Humble Bundle
Humble Bundle, Inc. is a digital storefront for video games, which grew out of its original offering of Humble Bundles, collections of games sold at a price determined by the purchaser and with a portion of the price going towards charity and t ...
to launch the Humble THQ Bundle in an effort to raise more money. By December 12, 2012, THQ sold nearly 800,000 bundles, raising around $5 million; THQ President Jason Rubin also made a purchase, spending $11,050 on the bundle. On December 19, 2012, just days after the Humble THQ bundle ended, THQ filed for
Chapter 11 bankruptcy
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
with the intention of selling THQ and all of its assets to Clearlake Capital Group with Centerview Partners handling the sale. Skip Paul, a former colleague of Jason Rubin, helped orchestrate the proposed
stalking horse bid A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act as an effective reserve bid. The intent is to maximize the value of its assets or avoid low bids, as part of (or be ...
from Clearlake Capital Group.
However, the bid was ultimately denied by Judge Mary F. Walrath and creditors instead approved an individual auction of THQ's properties, which went ahead on January 22, 2013, one day prior to closure. At the auction, the ''Homefront'' franchise was acquired by
Crytek
Crytek GmbH is a German video game developer and software developer based in Frankfurt. Founded by the Yerli brothers in Coburg in 1999 and moved to Frankfurt in 2006, Crytek also operates further studios in Kyiv, Ukraine and Istanbul, Turkey. ...
(and was later acquired by
Koch Media
Plaion (formerly Koch Media) is a German-Austrian media company headquartered in Höfen, Tyrol, Austria, with an operating subsidiary based in Planegg, Germany. The company was founded in 1994 by Franz Koch and Klemens Kundratitz. The company ...
),
Relic Entertainment
Relic Entertainment Inc. (formerly known as THQ Canada Inc.) is a Canadian video game developer based in Vancouver, founded in 1997. The studio specializes in real-time strategy games and is known for series such as ''Homeworld'', '' Warhammer 40 ...
and the video game rights to the
''Warhammer 40,000'' series were sold to
Sega
is a Japanese multinational corporation, multinational video game and entertainment company headquartered in Shinagawa, Tokyo. Its international branches, Sega of America and Sega Europe, are headquartered in Irvine, California and London, r ...
, and the publishing rights to
Turtle Rock Studios
Turtle Rock Studios (known as Valve South between 2008 and 2010) is an American video game developer founded in March 2002 by Michael Booth. It was acquired by Valve in 2008, but was re-founded in 2011 as an independent company by Phil Robb and ...
' ''
Evolve'' and the
''WWE'' series were acquired by
Take-Two Interactive
Take-Two Interactive Software, Inc. is an American video game holding company based in New York City and founded by Ryan Brant in September 1993.
The company owns two major publishing labels, Rockstar Games and 2K, which operate internal g ...
.
Ubisoft
Ubisoft Entertainment SA (; ; formerly Ubi Soft Entertainment SA) is a French video game publisher headquartered in Saint-Mandé with development studios across the world. Its video game franchises include '' Assassin's Creed'', ''Far Cry'', '' ...
acquired THQ Montreal and the publishing rights to ''
South Park: The Stick of Truth'' while
Volition and the publishing rights to the ''
Metro
Metro, short for metropolitan, may refer to:
Geography
* Metro (city), a city in Indonesia
* A metropolitan area, the populated region including and surrounding an urban center
Public transport
* Rapid transit, a passenger railway in an urba ...
'' franchise were acquired by
Koch Media
Plaion (formerly Koch Media) is a German-Austrian media company headquartered in Höfen, Tyrol, Austria, with an operating subsidiary based in Planegg, Germany. The company was founded in 1994 by Franz Koch and Klemens Kundratitz. The company ...
.
Vigil Games
Vigil Games was an American game development company owned by THQ. It was formed by comic artist Joe Madureira and David Adams (video game designer), David Adams in 2005.
History
Vigil Games was founded in 2005 by Joe Madureira, David Adams, Mar ...
and THQ's publishing unit were still included in the Chapter 11 case, although all employees related to these entities were
laid off
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing (reducing the ...
. In a posting on
Twitter
Twitter is an online social media and social networking service owned and operated by American company Twitter, Inc., on which users post and interact with 280-character-long messages known as "tweets". Registered users can post, like, and ...
on January 23,
PlatinumGames
PlatinumGames Inc. is a Japanese video game developer that was founded in October 2007 as result of a merger between two companies, Seeds Inc. and Odd Inc. Shinji Mikami, Atsushi Inaba, and Hideki Kamiya founded Seeds Inc. after the closure of ...
' producer
Atsushi Inaba
is a Japanese video game producer and businessman. He was the former CEO and producer of the Capcom subsidiary Clover Studio, who developed the games ''Viewtiful Joe'', ''Ōkami'', and ''God Hand''. He is currently the head producer at the develo ...
expressed interest in acquiring the ''Darksiders'' franchise from THQ.
On February 26, THQ announced that it would sell off its remaining properties – the ''Darksiders'', ''Homeworld'', ''Red Faction'', and ''Destroy All Humans!'' franchises, as well as its licensed and original properties – in a court-approved auction which would be held from April 1 to 15, with the process completed by May. Around the same time, THQ shut down the servers to the
2012 remake of ''
Nexuiz
''Nexuiz'' is a free first-person shooter video game developed and published by Alientrap. The game was released under the GNU General Public License (GPL) and uses the DarkPlaces engine, a modified ''Quake'' engine. A remake, also called ''N ...
'', which was developed by
IllFonic
IllFonic, LLC is an American video game developer based in Golden, Colorado, with further offices in Tacoma, Washington, and Austin, Texas. The studio was founded by Charles Brungardt, Kedhrin Gonzales and Raphael Saadiq in 2007. IllFonic is b ...
. In June 2013,
Interplay Entertainment
Interplay Entertainment Corp. is an American video game developer and Video game publisher, publisher based in Los Angeles. The company was founded in 1983 as Interplay Productions by developers Brian Fargo, Jay Patel, Troy Worrell, and Rebecca ...
acquired the rights to the ''
Freespace'' franchise from THQ.
All of THQ's remaining franchises, including the remainder of its original IPs (aside from ''Homeworld'', which was acquired by
Gearbox Software
Gearbox Software is an American video game development company based in Frisco, Texas. It was established as a limited liability company in February 1999 by five developers formerly of Rebel Boat Rocker. Randy Pitchford, one of the founders, se ...
, and ''Drawn to Life'', acquired by
505 Games
505 Games S.p.A. is an Italian video game publisher based in Milan. It was founded in 2006 as a subsidiary of Milan-based Digital Bros.
History
505 Games was founded in 2006 in Milan as a subsidiary of Digital Bros. The company found its earl ...
) and licensed software, were auctioned to
Nordic Games
The Nordic Games were the first international multi-sport event that focused primarily on winter sports, and were held at varying intervals between 1901 and 1926. It was organized by Sweden's Swedish Central Association for the Promotion of ...
in April 2013. The Nickelodeon game license was acquired by
Activision
Activision Publishing, Inc. is an American video game publisher based in Santa Monica, California. It serves as the publishing business for its parent company, Activision Blizzard, and consists of several subsidiary studios. Activision is one o ...
. This would later expire, with Nickelodeon licensing out their franchises through various smaller publishers, including Nordic.
Creditors initially said the proposed sale of THQ in the bankruptcy court benefited current THQ management, including Rubin. Presiding Judge Walwrath called these criticisms a "conspiracy theory" on record. Creditors ultimately released THQ management, including Rubin, of any malfeasance in the company's official plan of liquidation.
The liquidation of THQ also affected other studios; British developer
Blitz Games Studios shut down in September 2013, citing financial difficulties. The company's CEO Philip Oliver said that the demise of THQ, who was a major client for the studio, was one of the major contributing factors to the closure.
On June 12, 2014,
Nordic Games
The Nordic Games were the first international multi-sport event that focused primarily on winter sports, and were held at varying intervals between 1901 and 1926. It was organized by Sweden's Swedish Central Association for the Promotion of ...
announced that it had acquired the THQ
trademark
A trademark (also written trade mark or trade-mark) is a type of intellectual property consisting of a recognizable sign, design, or expression that identifies products or services from a particular source and distinguishes them from others ...
, allowing the studio to publish games under the THQ name. In August 2016, the company was renamed
THQ Nordic
THQ Nordic GmbH (formerly Nordic Games GmbH) is an Austrian video game publisher based in Vienna. Formed in 2011, it is a publishing subsidiary of Embracer Group. Originally named Nordic Games, as was the parent company, both companies were re ...
in an effort to better associate itself with the historic brand.
Subsidiaries
Development
Publishing
See also
*
List of THQ games
Here are the list of the video games those were published or distributed by THQ.
Published titles
Distributed titles
Notes
References
{{Reflist
THQ games, *
Video game lists by company, THQ ...
References
External links
*
{{Authority control
Companies based in Los Angeles County, California
Companies formerly listed on the Nasdaq
Companies that filed for Chapter 11 bankruptcy in 2012
Defunct video game companies of the United States
Video game companies disestablished in 2013
Video game companies established in 1990
Video game development companies
Video game publishers