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Clearlake to Acquire THQ Assets

by on December 20, 2012
 

On Wednesday the 18th of December, THQ filed for Bankruptcy. However, THQ also announced that it had secured an investor, a firm named Clearlake Capital Group who are buying a majority of the THQ company. This includes development studios, THQ’s intellectual properties, contracts and also support staff that are required to help out the development teams.

Clearlake Capital Group will also be providing money towards the continual development of on-going projects and have promised to let THQ finish the development of games, as well as allow them to continue to make games in the future. This is very good news for both THQ and also fans of all of the games THQ have produced over the years.

THQ’s President, Jason Rubin, earlier posted a community message to explain the situation to the supporters of THQ. In this message he highlights exactly what has happened and what it means for the present as well as the future of THQ.

Jason also explains just what the ‘Chapter 11 proceeding of the Bankruptcy code’ is and how it has helped other companies to get back on their feet.

“Chapter 11 is a safety net for U.S. companies. American Airlines is currently in Chapter 11 restructuring, yet I flew back and forth on that airline when I visited Volition two weeks ago.  Donald Trump and his companies have been in Chapter 11 four times.  You can add to that list household names such as Macy’s, Eddie Bauer, the Chicago Cubs, Chrysler, Delta Airlines, General Motors, the Pittsburgh Penguins, Marvel Studios, and MGM, among many others.

MGM filed Chapter 11 two years ago, and this year it released “Skyfall” and “The Hobbit,” two of the biggest titles of the year. That’s what I mean when I say new start!”

Jason Rubin also assured everybody that they are free to preorder any of the three games that had been delayed  (Metro: Last Light, Company of Heroes 2, and South Park: The Stick of Truth)  and that development is continuing not only on these games, but also games such as Saints Row 4 and the Homefront sequel.

This message from the President of THQ is sure to make some people rest easy in the knowledge that games are still on the way!

To read the full community message follow this link: http://www.thq.com/us/go/article/view/homepage_article/261277/thq_community_message_from_jason_rubin?utm_source=Social&utm_medium=General&utm_campaign=THQ


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