According to recent updates via Twitter, it appears that titles from the now bankrupt THQ will possibly be sold piecemeal. We’re about to go down a bit of a legal rabbit hole with this, so bear with me. On the one hand, there’s the Clearlake Capital Group, an investment firm and the organization that first approached THQ after their unfortunate announcement. These are the guys that want to step in and give THQ the money to survive the bankruptcy, and subsequently make money in later sales of the THQ’s assets.
As of last week, it was known that at least five publishers had their eye on THQ and its properties. The main conflict at the time was whether or not the defunct publisher would be sold whole, or bit by bit. Complaints from the buyer’s side mainly revolve around the timing of the sale, and how the short period hasn’t allowed all prospective buyers to prepare. THQ and Clearlake, however, state that the timing is necessary, as THQ could run out of money by the end of the month. As of now, there is a tentative agreement to hold an auction January 22nd, which allows for the sale of franchises on a title-by-title basis. Of course, this is all still up in the air, as nothing has been made official.
Head over to Distressed Debt Investing for a lot more quality, in-depth coverage of what has already transpired.
What big name publishers would you want to see pick up the varying franchises of THQ? Let us know in the comments below.