THQ Files for Chapter 11

Also interesting: The document only says that Vigil is working on Crawler (working title). WH40K Dark Millennium is neither mentioned there nor in the list posted above. Semi-officially canned?

That would be about what the first sold.

If you add marketing and distribution - not totally impossible these days.

Homefront 1 was great, so 2 could do well… That they think 4m for south Park however… is anyone at ALL interested in a south park RPG?

That said; I’d rather have THQ disappear than have them become a property of EA.

It’s a single player RPG, not an MMO.

Shouldn’t Crytek UK be concerned? If I would have to cut costs I would axe development on Homefront 2 and WWE 14 as they have a big junk in fiscal year 2014.

1666 is probably dead (what the hell is that anyways?).

Edit: 1666 is an unannounced project.
According to Eurogamer:

THQ Montreal, headed up by former Assassin’s Creed chief Patrice Désilets, is making 1666, which was rumoured earlier this year. V for Vendetta meets Assassin’s Creed?

A Post from Jason Rubin, seems positive. Guess we’ll see.

Where are you accessing the filings Telefrog? Wouldn’t mind having a look

This is the full notice:

“Selected Court Documents” on the left menu will get you a bunch of docs.

I seem to recall that it was the unwise PS3 and 360 Udraw releases that drained their cash reserves and buried them in debt.

Pretty much!

Exactly. And yes.

I think THQ is showing way too much optimism with both Evolve and 1666. These are new IPs, and won’t have the luxury of tapping into the Call of Duty / Battlefield market like Homefront did. THQ put a lot of resources into Darksiders 2, but there was obviously a loss there despite an existing (and mostly well received) IP.

Hm, I’m a little surprised by this. Why are/were significant portions of the CoH 2 budget scheduled out well into FY 2014 and even 2015? Long-term plans for expansion packs, and/or DLC? The chart implies that 46% of the entire development budget applies after the potential March 2013 release. I’d expect a larger upfront application of the budget, versus close to half reserved for post-release.

It actually makes me wonder if Relic is going to be among the first to potentially suffer post acquisition. Get CoH 2 out the door, then trim down the budget and not bother with a title that is expected to only move a couple million units. Homefront 2, South Park, and Saints Row 4 seem to have the most appeal from a numbers perspective, and that’s what I think the new owners will be looking at most. I’d imagine Evolve and 1666 are going to get put under a microscope given the size of their budgets.

Relic already said they wouldn’t mind getting into the F2P business again despite Company of Heroes Online being canned during beta. Given how the CoH 2 multiplayer seems to be set up (ranking/progress system, microtransactions etc.), I wouldn’t be surprised if the game gets somewhat treated like an F2P game with a constant stream of updates/content and the potential to turn the MP part into its own separate F2P thing down the road.

Man, I just listened to the Homeworld 2 soundtrack and watched a few videos of the game on Youtube. What an awesome game (and HW1) that was.

Where is Homeworld 3 for god’s sake?! What is Relic doing?

I hope this THQ thing isn’t the end of all hopes.

I think I will replay HW2 over the holidays…

Well CoH still has a nice online community. I can login and play 2v2 random teams with very little wait each night. They probably should be monetising me somehow.

If memory serves, Homeworld was brain child of designer Alex Garden, who was promoted up out of Relic to THQ proper some years ago (shortly after Homeworld 2/Impossible Creatures).

Relic has also seen considerable turnover, losing much of their original teams to Blizzard and other studios, as well as to team members migrating outward to their own startup enterprises.

With very few exceptions, would imagine that the Relic of the early 2000s that created Homeworld more or less walked out the door many years ago.

Wouldn’t bother holding my breath for a Homeworld 3, even if THQ were fighting fit.

Alex Garden sold Relic to THQ a while ago, and since started up a robotic parking company and Nexon’s US branch before settling in his current job as the General Manager of Xbox Live.


tl:dr version

US Trustee Roberta DeAngelis has filed an objection over the sale’s time table, saying that the 30-day window is far too small to give parties other than Clearlake Capital Group a chance to bid and participate in the sale. She also took issue with a stipulation in THQ’s plan that awards $2.25 million to Clearlake in the event that a different company wins the bid; that amount is disproportionately large with respect to the cash value of the purchase price, she claims.

A consortium of THQ’s creditors have also filed an objection, claiming that THQ’s proposed bidding procedures “appear to have been designed specifically to thwart any potential bidders from stepping forward to compete with Clearlake’s bid,” taking issue with the sale’s time table and “requirement that prospective purchasers bid on the Debtors ‘as a whole’ rather than on a ‘piecemeal’ or ‘title-by-title’ basis.”

In essence, the creditors feel as though the process has been designed to keep THQ operational, rather than to pay back its debts: “Rather than being designed to maximize the value of the Debtors’ estates, the Bidding Procedures, by design or otherwise, render the ‘auction process’ meaningless and virtually guarantee that Clearlake will be the ultimate buyer, thereby ensuring that the Debtors’ management retain their positions within, and operating control over, the Debtors’ organization.”