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Creditors unhappy with THQ’s wish to facilitate a swift sale to Clearwater Capital have won their fight to prevent the sale and thus enable other parties to enter the bidding process.
Distressed Debt Investing is now reporting that THQ’s assets will go up for auction on January 22, with interested parties able to bid for individual titles.
“Parties have come to agreement: THQ auction now on Jan 22nd,” said Distressed Debt Investing. “The auction will allow for piecemeal (“title by title”) sales of THQ assets.”
DDI added: “EA, a potential buyer of certain titles has completed site visits.”
EA joins a list of interested parties which also includes Warner Bros.
The decision could see THQ’s IPs spread out across the publishing world, with leading franchise Saints Row sure to be of major interest. Titles nearing completion – such as Company of Heroes 2, Metro Last Light and South Park the Stick of Truth – may also offer a significant return if the purchase price is right.
Source: DDI
