THQ maybe not as bad as we thought

Written by Stuart Thomas on Mon, Jan 7, 2013 4:46 AM
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For all the GD fans who are trying to keep up with the THQ bankruptcy saga: It might not be as bad as we thought.

True, THQ filed for bankruptcy last month. But for those of us who are not economics students, THQ president Jason Rubin has announced that this isn't necessarily bad news...

"The most important thing to understand is that Chapter 11 [proceeding of the Bankruptcy code] does not mean the end of the THQ story or the end of the titles you love", Rubin said last month. "Quite the opposite is true, actually."

Apparently, many strong companies have done the same in the past (and even in the present). Rubin's community message is actually full of optimism, and for those of us who wish the best to the ailing publisher, it's encouraging news.

"Chapter 11 is a safety net for U.S. companies", Rubin adds. True, THQ is probably going to change hands in the near future, but it's entirely possible that this won't mean any titles will be dropped from their upcoming menu of games. In fact, Relic are even hiring!

Or am I just the most naive journalist in the land? Do you read THQ's announcement and assume the worst? Either way, let's hear it in the comments nexus below.

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10:27 Jan-08-2013

THQ makes the games we love, no reason for their leaving the game industry!!!

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16:19 Jan-07-2013

New ownership (with a new Board of Directors) could be precisely what THQ needs to right itself. I'm really excited for THQ's 2013 line-up, and probably have more of their games preordered than any other publisher: Metro: Last Light, South Park RPG, Company of Heroes 2, etc. If marketed correctly, THQ could have the most positive year of its history.
But (and there's always a "but"), profitability does not always coincide with pleasing gamers. New ownership could come in and decide the company is better suited to developing mobile-platform games, or on-line-only games, or something else that the "hardcore" gamer does not like. It could also decide to kill or sell-off some of its franchises. We simply will not know until new ownership settles in.
That said, I'm still pissed THQ killed off Red Faction with their misguided decision to move it to third-person...

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16:11 Jan-07-2013

Thats for not making Homeworld 3 THQ!

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16:10 Jan-07-2013

I hope thq are alright, they are a decent publisher, and they don't destroy games like EA

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13:58 Jan-07-2013

Chapter 11 usually saves companies from "real" bankrupt :) I think American Airlines were in Chapter 11 too. But there are some problems also. The original plan was to sell everything to Clearlake Capital Group so everything would be pretty much the same. But this was not fine for some of the companies THQ owns money, because this was done to get the best result for the employees and not for the guys they are in debt for. So it will sold in pieces if that's what makes the most money for the companies they are in debt for.

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11:59 Jan-07-2013

bankrupt is useful thing actually,
I hope the company knows it's advantages and therefore "restart" the success :Đ

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09:36 Jan-07-2013

Who sad THQ was bad? :D

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09:04 Jan-07-2013

Thank you lord for not letting CoH 2 get cancelled! Hope in humanity restored!

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17:06 Jan-07-2013

I hear you!!

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08:16 Jan-07-2013

So, there's going to be a Saint's Row 4, Homefront 2 and most importantly Metro: Last Light ? Ossuummm!! :D

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21:47 Jan-08-2013

I've seen lots of new Metro pictures so I'm sure we'll get it ;)

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07:35 Jan-07-2013

The thing with Chapter 11 bankruptcy is that is just protects the company from the debt they owe so they can rebuild and pay back their debts. Its kinda like they can skip the bills for awhile and then the court can approve a new business model/structure and then they resume paying bills and being normal. Its really funky but its like a single use get out of jail free card. Next step is Chap 13 which means they close up shop. So panic when 13 is mentioned XD

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08:15 Jan-07-2013

Lol, thanks for information :)

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19:37 Jan-07-2013

No prob. My econ teacher was good at teaching us something after all

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06:41 Jan-07-2013

at last a sigh of relief :)

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06:40 Jan-07-2013

http://www.businessweek.com/news/2013-01-04/thq-denied-approval-of-bankruptcy-sale-process-and-loan
Stumbled across this today as well. Was this already known when Rubin made the statement, and if so, how will that affect the outcome??

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