THQ Finished: Assets Grabbed
According to MCV, Sega, Koch Media, Crytek, Take-Two and Ubisoft have moved in to buy up THQ’s assets at auction.
THQ Files for Bankruptcy
As reported by gameranx.com, THQ has now filed for bankruptcy under Chapter 11.
All studios remain open, with projects still in development at this time to continue as planned.
Chapter 11 is a chapter of the United States’ Bankruptcy Code, and is used to permit reorganisation, rather than liquidation which is normally governed by Chapter 7.