THQ files for bankruptcy protection

Today, at 18.45pm GMT games developer THQ, responsible for games like Metro 2033, Saints Row and the Dawn of War series, filed for bankruptcy protection.

Over the past few months, THQ has faced difficult times and with the report of a $21 million loss, delays to their release schedules and loss in confidence in their stock value.

In the past hour it has emerged that much of the company’s assets (valued at $60 million) have been sold to a private investor.

This, coupled with their bankruptcy proceedings, does not mean that the company will cease to exist or people who own their games will become unable to play them, but sets legal practices in place to protect the company for a limited time while their finances and options are assessed.

Although rumours that the company was in trouble have existed all year this didn’t concern gamers who were happy to see some of their triple-A titles showcased in a recent Humble Bundle. As the Humble Bundle is traditionally used to showcase indie developers it was commented by some at the time that THQ might be in trouble if they were allowing their best titles to be sold on a pay-what-you-please model – but others suggested it was perhaps just a business taking advantage of shifting paradigms. Pay-what-you-please models have grown increasingly successful in recent years and their adoption has continued to occur in ever larger businesses.

What will eventually become of THQ is still unknown but for now anybody who owns their games through Humble Bundle or services like Steam should continue to be able to play without hindrance.

Update: 19.54.
One of the THQ team, Jason Rubin says that there is a “Commitment from Clearlake Capital to buy the business. Major step in securing financial future.” While this won’t stop bankruptcy proceedings, it should stop the total collapse of the company for the time being.

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Lifelong geek, and now admin at Worlds Beyond.

Humble THQ Bundle

With each passing bundle, the team behind Humble Bundle are getting more ambitious and bringing bigger and better offers to the public. Recently they’ve started diversifying their offers too; the past few bundles have included books curated by Cory Doctorow, a selection of Android phone apps and now the latest bundle is from PC games publisher THQ.

Included in the bundle is Darkside, Company of Heroes and Metro 2033. Unlike other sales, the Humble Bundle works on a pay-what-you-like system with exclusive perks for those who pay more than the average. For this bundle that bonus is Saint’s Row: The Third.

It’s often worth getting in early as people tend to beat the average price (in order to claim the bonus item) so the price for the whole bundle tends to rise over time. People who beat the average price also get free access to any items added after the bundle starts – of course if you don’t want this you’re free to purchase the basic bundle for as little as $0.01!

Check it out at www.humblebundle.com

What do you think of this bundle? Is it worth getting? What would you like to see added to it?

About

Lifelong geek, and now admin at Worlds Beyond.