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[GI] THQ defaults on $50m Wells Fargo loan

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post #1 of 39

11/12/12 at 7:28am

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Riou
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Quote:

Bank continues to fund requests from troubled publisher

Troubled publisher THQ has defaulted on its $50 million loan from Wells Fargo.

Revealed in SEC filings last week, the publisher has defaulted at least once during the fiscal quarter ended September 30. For that quarter, THQ revealed a loss of $21 million and confirmed the appointment of Centreview Partners to look at the possibility of a sale.

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post #2 of 39

11/12/12 at 7:33am

thegreatsquare
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Hope it gets bought up by Valve or BGS/Zenimax rather than EA/Ubi/Activision.

...at least the STALKER IP anyway.

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post #3 of 39

11/12/12 at 7:34am

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Sad news, hope their Company of Heroes 2 will help them get back on track.

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post #4 of 39

11/12/12 at 7:37am

zinfinion
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Quote:

Originally Posted by thegreatsquare

Hope it gets bought up by Valve or BGS/Zenimax rather than EA/Ubi/Activision.

...at least the STALKER IP anyway.

THQ has no claim to the Stalker IP. They were merely the publisher in western countries.

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post #5 of 39

11/12/12 at 7:37am

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Damnit THQ, IMO, they are a good publisher but have made some bad business decisions in the past. I hope Metro: Last Light makes it out if they go under.

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post #6 of 39

11/12/12 at 7:40am

robbo2
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That sucks

THQ is one of my favorite publishers. Bring on Last light!

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post #7 of 39

11/12/12 at 7:42am

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I thought THQ went down the toilet years ago?

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post #8 of 39

11/12/12 at 7:43am

zinfinion
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Here's a pertinent post from the GAF thread. No idea as to its veracity. Take this as pure scuttlebutt.

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post #9 of 39

11/12/12 at 7:45am

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Just out of curiosity, I have a company of heroes 2 preorder on steam, if thq goes belly up do I get my money back?

As for THQs situation, its a shame because they have some great games but also alot of crappy ones. I thought darksiders 2 was great, can't wait for COH 2 and last light looks good, especially since I like metro. Unfortunately there are alot of pubs with a blockbuster game that they milk every year (ubisoft, EA, Activision) but I do not think THQ has one which seems needed to survive in the big gaming industry.
Edited by sausageson - 11/12/12 at 7:48am

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post #10 of 39

11/12/12 at 7:49am

zinfinion
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Quote:

Originally Posted by sausageson

Just out of curiosity, I have a company of heroes 2 preorder on steam, if thq goes belly up do I get my money back?

Likely it goes into limbo until another publisher buys the publishing rights. But I have no idea with regard to how Steam will handle that.

Also since Relic as a studio is wholly owned by THQ it's a bit messier than if it were merely a publishing agreement.
Edited by zinfinion - 11/12/12 at 7:51am

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[GI] THQ defaults on $50m Wells Fargo loan

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