Category Archives: THQ Financials

THQ has almost been sold off entirely, with its back-catalogue expected to shift in coming weeks. In a new interview, former THQ boss Jason Rubin has explained why, had it been a few years later, the publisher would have had a greater chance of survival, thanks to the increased profitability of digital business models.

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THQ’s properties were sold off at auction last night. The 22-hour process saw the remains of the company carved up and sold off to buyers. Sega bought Relic, Ubisoft bought South Park and more. Check out Steph’s in-depth report on the matter here. This morning former THQ president Jason Rubin and boss Brian Farrell have shared further thoughts on the situation.

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THQ filed for bankruptcy protection last night, sparking fears over the status of its outstanding products – such as Metro: Last Light and South Park: The Stick of Truth. Company president Jason Rubin has now issued an open letter that plays down the “click-grabbing headlines” that he believes will follow the issue, and assures investors, the press, and gamers alike that the move is natural whenever a company looks to adjust its financial position.

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THQ stock woes painted a grim picture last month, with crashing share prices, the departure of its CFO and other equally as problematic issues. However, since launching its generous humble bundle package, the company’s stick has spiked, and suggests that disaster has – for the time being – been averted.

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THQ has negotiated a solution to its difficulties with creditor Wells Fargo, has entered into a mysterious financial negotiation, and dumped its chief financial officer.

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THQ has filed a new financial report detailing its credit agreement with Wells Fargo, with president Jason Rubin providing a hopeful statement.

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THQ posted its financial report last night, suggesting that all was not well at the Californian publisher. Aside from stating losses of $21 million, the company also announced delays of Company of Heroes 2, Metro: Last Light and South Park. The move has made investors nervous.

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THQ published its most recent financial report last night, and the results made for grim reading. The publisher has now hired an accountancy firm to seek “strategic and financing alternatives”, but Wedbush analyst Michael Pachter isn’t convinced the move will be enough to avoid sale or bankruptcy.

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South Park: The Stick of Truth, Metro: Last Light and Company of Heroes 2 have all been delayed, THQ announced during its second quarter financials report.

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Despite topping the US retail sales charts back in August, it would appear that Darksiders II is struggling to reach the 2 million sales needed for publisher THQ to break even on the product.

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THQ president Jason Rubin has revealed that the company’s internal studios have started work on four new, currently unannounced titles. He’s also been keeping an eye on the progress of Homefront 2 and the new project from Assassin’s Creed creator Patrice Desilets.

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Guillermo del Toro’s InSANE trilogy has been shelved, it’s been announced as part of a generally positive first quarter THQ report.

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There’s been a changing of the guard at THQ.  However, that doesn’t mean the new guard has any idea why the old guard is gone. More »

THQ has confirmed it had a fourth UFC Undisputed game in the works before abruptly selling off the license.

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THQ’s 2012 form 10-K reflects the firm’s present financial crisis, wanring that even one missed sales target could have devastating effects on the rest of the publisher’s pipeline.

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THQ has announced increased revenue and losses for FY12. The firm also delayed South Park: The Game into Q1 2013, and it will no longer publish Itagaki’s actioner Devil’s Third.

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THQ’s announced preliminary results for its fourth quarter, confirming it expects to “exceed” previous expectations with non-GAAP net sales in the region of $160 million to $170 million.

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THQ has posted its financial results for the quarter ending December 31, 2011, revealing $9.2 million year-on-year decrease in sales but a healthy looking release schedule.

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