Yesterday it was revealed that beleaguered publisher THQ had filed for bankruptcy. In an open letter to fans, THQ president Jason Rubin explained what was happening to his company. As his letter detailed, THQ has been financially bolstered by private equity firm Clearlake Capital Group. Despite this, in order for THQ to be sold properly, it had to file for chapter 11 bankruptcy.
In his letter, Rubin stated that the “Chapter 11 process allows for other bidders to make competing offers for THQ. So while we are extremely excited about the Clearlake opportunity, we won’t be able to say that the deal is done for a month or so.”
In other words, all of THQ’s assets (studios, game IPs, staff etc) are up for auction for at least another month. This is obviously part of the reason why Clearlake took on THQ in the first place: potentially to make a sale. Now, if rumours are to be believed, Ubisoft is currently eyeing the THQ stables.
Website MCV has received word that Ubisoft has already entered into negotiations to purchase all of THQ’s assets. If this is indeed the case, and if this deal goes through, the French publisher will acquire the rights to franchises like Company of Heroes, Darksiders, Saints Row, Homefront and Red Faction. The Warhammer 40k RTS license would also be among those acquired, as well as rights to develop WWE games.
For now it’s all pure rumour, but the likelihood of a sale of THQ’s assets is now greater than ever. It’s just a matter of time before we see who it is that picks them up.