Bankruptcy Judge OKs Sale of THQ AssetsWednesday, July 17, 2013
A federal judge has approved video game publisher THQ Inc.'s sell-off of its game titles and development studios and clears the way to end the bankrupt company's estate.
THQ, formerly headquartered in Agoura Hills, filed for bankruptcy in December following years of declining sales.
Creditors were paid from the sale of the firm’s games, which include the best-selling “Saint’s Row” and “Company of Heroes” franchises.
In January, the bankruptcy estate raised $72 million by selling off game titles and development studios to Take-Two Interactive Software Inc. of New York City, Sega Corp. of Tokyo, French video game maker Ubisoft LLC and two German companies.
A second sale in April sold game titles and software to Nordic Games Licensing AB, a Swedish video games publisher; Gearbox Software LLC, of Plano, Texas; and 505 Games Srl, an Italian video game publisher.