Here is Eddie Thorson and his personal thoughts on what is happening with THQ and the bankruptcy.
Hey all, this week I am going to write about one of the most well known video game developers/publishers THQ.
THQ was founded in 1989 as a toy company and grew to what it is today. By now, many of you already know that THQ has filed for chapter 11 bankruptcy on December 19, 2012. This may mark the end (or new beginning) for many of the game franchises that THQ Produce. Series that includes Saint’s Row, Darksiders and many others. Upon filing THQ wanted to liquidate there license agreement as whole and not to separate them.
The Courts reviewed and denied THQ's request. All the agreement that THQ currently has will be auctioned off starting January 22, 2013. When I first read that I begin to wonder why, so I did a little research. What I discovered is that THQ has Long term agreements with WWE, Nickelodeon, Disney and Pixar. I can see why the courts denied their request.
Disney and Pixar titles games are money in the bank. The courts also failed to realize that these titles would be owned by Disney. Disney now own LucasArts which has a games division. Any company that tries to pick up these franchises has one of two things that might happen. One Disney might cancel the agreements or two Disney lets that company pick up the title then terminate the agreement. Remember Disney has been known to terminate their agreements in the past.
Then there's the WWE, WWE games are the most popular in-ring sport games out there. As everybody is well aware the owners of the WWE is very picky when it comes to their brand. The WWE could also end their agreements at any time and take the franchise to any company they choose. As a fan of WWE Games I wonder what's going to happen to this product, will it revert back to some lackluster product or find life with another company.
After twenty three years THQ as we know it is coming to an end. I am sad to see THQ fade away into gaming history and see people unemployed due to the bankruptcy. I just hope to find out what will happen to all those beloved franchises.