THQ#Subsidiaries

THQ Inc. was founded by LJN co-founder Jack Friedman in April 1990. "THQ" is an initialism for "Toy Headquarters". THQ acquired New Ventures, a division of Broderbund, in September 1990.{{cite news |last=Carlsen |first=Clifford |title=Broderbund Software Inc. jettisons Nintendo, games. (THQ Inc. buys New Ventures division from Broderbund) |url=http://www.accessmylibrary.com/article-1G1-8921768/broderbund-software-inc-jettisons.html |newspaper=San Francisco Business Times |access-date=November 10, 2012 |date=September 10, 1990 |archive-date=January 27, 2013 |archive-url=https://web.archive.org/web/20130127162001/http://www.accessmylibrary.com/article-1G1-8921768/broderbund-software-inc-jettisons.html |url-status=live}} In 1991, Trinity Acquisition Corp, a NASDAQ-listed special-purpose acquisition company (SPAC), agreed to acquire and merge with THQ in a reverse merger takeover. The deal was a stock swap valued at about $33 million, with THQ's shareholders owning 51.7% of the new entity.{{cite news |title=N.Y. Company to Acquire Game Firm in Stock Swap |url=https://www.latimes.com/archives/la-xpm-1991-05-21-fi-2372-story.html |work=Los Angeles Times |access-date=May 1, 2022 |date=May 21, 1991 |archive-date=July 14, 2014 |archive-url=https://web.archive.org/web/20140714165106/http://articles.latimes.com/1991-05-21/business/fi-2372_1_stock-swap |url-status=live}} THQ's name was retained for the new company, its ticker symbol was changed to "THQI", and Friedman was named as its president. THQ then acquired video game developer Black Pearl Software of Chicago in 1993.{{cite news |title=THQ Inc. to Acquire Black Pearl Software |url=https://www.latimes.com/archives/la-xpm-1993-06-08-fi-919-story.html |work=Los Angeles Times |access-date=May 1, 2022|date=March 8, 1993 |archive-date=December 6, 2013 |archive-url=https://web.archive.org/web/20131206182518/http://articles.latimes.com/1993-06-08/business/fi-919_1_black-pearl-software |url-status=live}} Following the acquisition, THQ would use the Black Pearl Software name for their Sega games, while the Malibu Games name would be used for the Nintendo games.

THQ withdrew completely from the toy business in 1994 to focus solely on video game production.{{cite web |title=Investor Relations |url=http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-faq |website=THQ.Inc |access-date=November 9, 2012 |archive-url=https://web.archive.org/web/20130827064528/http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-faq |archive-date=August 27, 2013 |url-status=dead}} Around the same time, the company entered into a deal with Electronic Arts to license five titles for various consoles.{{Cite magazine |date=June 1994 |title=ProNews |pages=186 |magazine=GamePro |url=https://retrocdn.net/images/b/bf/GamePro_US_059.pdf |access-date=September 20, 2023}} Jack Friedman then left the company in 1995 to co-found the toy manufacturer Jakks Pacific.{{cite news |last=Nelson |first=Valerie J. |title=Jack Friedman dies at 70; toy maker |url=https://www.latimes.com/archives/la-xpm-2010-may-06-la-me-jack-friedman-20100506-story.html |work=Los Angeles Times |access-date=May 1, 2022|date=May 6, 2010 |archive-date=March 15, 2012 |archive-url=https://web.archive.org/web/20120315013236/http://articles.latimes.com/2010/may/06/local/la-me-jack-friedman-20100506 |url-status=live}}

At the Winter CES 1995, THQ signed an expanded deal with Electronic Arts to develop games for their 16-bit and 8-bit home consoles and handheld titles.{{Cite news|date=1995-01-04|title=Press release: 1995-01-04: T-HQ shows new lineup of portable video games and XBAND video game modem at 1995 Winter CES|work=The Free Library}} From then on, the Black Pearl Software name would be used for 8-bit and 16-bit games, while THQ introduced the Kokopeli Digital Studios brand name for their 32-bit games.{{Cite web|title=Kokopeli Digital Studios|url=https://www.mobygames.com/company/kokopeli-digital-studios|access-date=2021-11-17|website=MobyGames|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117022812/https://www.mobygames.com/company/kokopeli-digital-studios|url-status=live}}

In 1997, THQ was reincorporated as a Delaware Corporation, and in 1999 acquired San Jose video game developer Pacific Coast Power & Light.{{cite news |title=San Jose Game Developer Now Subsidiary of THQ |url=https://www.latimes.com/archives/la-xpm-1999-jun-01-me-43070-story.html |work=Los Angeles Times |access-date=May 1, 2022|date=June 1, 1999 |archive-date=March 7, 2014 |archive-url=https://web.archive.org/web/20140307235936/http://articles.latimes.com/1999/jun/01/local/me-43070 |url-status=live}}

In June 1998, the company entered into a ten-year 50/50 joint venture with Jakks Pacific (entitled THQ/Jakks Pacific LLC) to acquire the WWF (later WWE) video game license, previously held by Acclaim Entertainment.{{cite web | url=https://www.ign.com/articles/1999/04/08/life-after-attitude | title=Life After Attitude | date=April 8, 1999 }} The deal, which would begin in October 1999, would correspond with two titles per year that THQ would handle product development and sales for.{{cite web | url=https://www.latimes.com/archives/la-xpm-1998-jun-16-fi-60559-story.html | title=THQ, Jakks Team for Wrestling Video Games | website=Los Angeles Times | date=June 16, 1998 }}

In 1999, it signed a deal to publish Power Rangers video games.{{Cite web|date=1999-07-08|title=THQ Grabs Old Power Rangers by the Cane|work=IGN|url=https://www.ign.com/articles/1999/07/08/thq-grabs-old-power-rangers-by-the-cane|access-date=2022-05-01|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117023013/https://www.ign.com/articles/1999/07/08/thq-grabs-old-power-rangers-by-the-cane|url-status=live}} Also that year, it signed a licensing agreement with British game developer Codemasters to bring their titles to their handheld market.{{Cite web|title=THQ TO DEVELOP TWO MICRO MACHINE TITLES FOR GAME BOY.|url=https://www.thefreelibrary.com/THQ+TO+DEVELOP+TWO+MICRO+MACHINE+TITLES+FOR+GAME+BOY-a054665488|access-date=2021-11-17|website=Free Online Library|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117023222/https://www.thefreelibrary.com/THQ+TO+DEVELOP+TWO+MICRO+MACHINE+TITLES+FOR+GAME+BOY-a054665488|url-status=live}}

File:THQ logo.svg

In February 2000, THQ faced a class action lawsuit over a violation of federal security laws due to nondisclosure of material information.{{cite web |url=http://www.thefreelibrary.com/Spector,+Roseman+and+Kodroff,+P.C.+Announces+Class+Action+Lawsuit...-a059580646 |title=Spector, Roseman and Kodroff, P.C. Announces Class Action Lawsuit Against THQ, INC. |date=February 20, 2000 |access-date=July 12, 2013 |archive-date=February 1, 2014 |archive-url=https://web.archive.org/web/20140201162602/http://www.thefreelibrary.com/Spector,+Roseman+and+Kodroff,+P.C.+Announces+Class+Action+Lawsuit...-a059580646 |url-status=live}} In September of the same year, the company expanded its internal product development capabilities with the acquisition of Volition located in Champaign, Illinois. Since then, THQ's internal studio system grew to eleven studios across the globe with distinct capabilities across all viable gaming platforms. Some of these studios, such as Relic Entertainment, Vigil Games, Blue Tongue Entertainment, Juice Games, Kaos Studios and Volition, worked on games for next generation consoles as well as PCs. THQ went on to acquire Vigil Games in 2006.{{cite web |title=THQ Announces Acquisition of Vigil Games |url=http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-newsArticle&ID=832692 |website=THQ |access-date=November 10, 2012 |date=March 16, 2006 |archive-url=https://web.archive.org/web/20190902002938/http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-newsArticle&ID=832692 |archive-date=September 2, 2019 |url-status=dead}}

In 2000, THQ signed a deal with Fox Interactive to bring five of the titles to the Game Boy Color market, such as the Croc franchise.{{Cite web|title=THQ and Fox Partner for the Game Boy|url=https://www.gamespot.com/articles/thq-and-fox-partner-for-the-game-boy/1100-2541880/|access-date=2021-11-17|website=GameSpot|language=en-US|archive-date=August 20, 2015|archive-url=https://web.archive.org/web/20150820193208/https://www.gamespot.com/articles/thq-and-fox-partner-for-the-game-boy/1100-2541880/|url-status=live}} In 2001, THQ obtained an extended agreement with Nickelodeon to produce video games based on their franchises, as well as computer game rights to Rugrats, SpongeBob SquarePants and Rocket Power and console and computer rights to other Nickelodeon shows like Jimmy Neutron: Boy Genius and The Wild Thornberrys.{{Cite web|title=THQ and Nickelodeon expand partnership|url=https://www.gamespot.com/articles/thq-and-nickelodeon-expand-partnership/1100-2683938/|access-date=2021-11-17|website=GameSpot|language=en-US|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117000530/https://www.gamespot.com/articles/thq-and-nickelodeon-expand-partnership/1100-2683938/|url-status=live}}{{Cite web|title=Nick And THQ Announce New Videogame Development Deal|url=https://www.awn.com/news/nick-and-thq-announce-new-videogame-development-deal|access-date=2021-11-17|website=Animation World Network|language=en|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117000542/https://www.awn.com/news/nick-and-thq-announce-new-videogame-development-deal|url-status=live}} The agreement also covered games based on original intellectual properties, such as Tak and the Power of Juju, with the potential that THQ would release a game first, followed by an animated cartoon on Nickelodeon.{{Cite news|last=Tran|first=Khanh T. L.|date=2002-02-13|title=Video-Game Maker Turns Its Focus To Kids in Deal With Nickelodeon|work=The Wall Street Journal|url=https://www.wsj.com/articles/SB101355202461443920|access-date=2021-11-17|issn=0099-9660|archive-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117000659/https://www.wsj.com/articles/SB101355202461443920|url-status=live}} In 2004, THQ signed an agreement with MGA Entertainment to publish video games based on the Bratz fashion doll line.{{Cite web|title=THQ signs multi-platform publishing agreement with MGA Entertainment for Bratz|url=https://www.gamesindustry.biz/thq-signs-multi-platform-publishing-agreement-with-mga-entertainment-for-bratz|archive-date=December 4, 2023|archive-url= https://web.archive.org/web/20231204031809/https://www.gamesindustry.biz/thq-signs-multi-platform-publishing-agreement-with-mga-entertainment-for-bratz |access-date=2024-05-05|url-status=live|website=GamesIndustry.biz|date=September 24, 2004 |language=en-US}}

On May 10, 2007, THQ reported its highest annual sales figures and net profits ever for the fiscal year which ended on March 31. THQ's revenues reached over $1 billion. In March 2008, THQ announced the development of the world's first ever cheerleading game using the Wii Balance Board.{{cite web |last=Dring |first=Christopher |url=https://www.mcvuk.com/business-news/publishing/thq-announces-cheerleading-game/ |title=THQ announces cheerleading game | Games industry news|website=MCV |date=March 7, 2008 |access-date=May 1, 2022 |archive-date=February 18, 2009 |archive-url=https://web.archive.org/web/20090218094319/http://www.mcvuk.com/news/29845/THQ-announces-cheerleading-game |url-status=live}}{{cite web |last=Dring |first=Christopher |title=THQ announces cheerleading game |url=https://www.mcvuk.com/business-news/publishing/thq-announces-cheerleading-game/ |website=MCV |access-date=May 1, 2022 |date=March 7, 2008 |archive-url=https://web.archive.org/web/20121022111905/http://www.mcvuk.com/news/read/thq-announces-cheerleading-game |archive-date=October 22, 2012 |url-status=dead}} Not long after, on November 3, 2008, the company closed five of its internal studios: Paradigm Entertainment, Mass Media Inc., Helixe, Locomotive Games, and Sandblast Games.{{cite web |url=https://www.shacknews.com/article/55703/thq-closes-five-studios-updated |title=THQ Closes Five Studios |last=Faylor |first=Chris |date=November 3, 2008 |website=ShackNews |access-date=May 1, 2022 |archive-date=December 6, 2008 |archive-url=https://web.archive.org/web/20081206135536/http://www.shacknews.com/onearticle.x/55703 |url-status=live}}{{cite web |last=Ransom-Wiley |first=James |title=THQ reveals 'Significant Business Realignment' |url=https://www.engadget.com/2008-11-05-thq-reveals-significant-business-realignment.html|website=Engadget|access-date=May 1, 2022|date=November 5, 2008 |archive-date=April 1, 2009 |archive-url=https://web.archive.org/web/20090401194106/http://www.joystiq.com/2008/11/05/thq-reveals-significant-business-realignment/ |url-status=live}}

In 2009, huge declines in sales prompted THQ to form a strategic plan to cut $220 million in annual costs by 2010 and invest in "fewer, better bets." Previously in 2007, THQ had a $68-million profit and $1 billion in revenue, which put it within range of their rival Activision. Many of its big-budget games sold poorly, despite having favorable reviews, as the recession hit. Its hold on kids' games based on Nickelodeon television shows and Pixar movies slipped as kids turned to free online games playable on the Internet. With shares down 86% from the previous year and a market value of only $173 million, THQ had the possibility of being acquired by other companies.{{cite news |last=Pham |first=Alex |title=Video game maker THQ plays defense|url=https://www.latimes.com/archives/la-xpm-2009-mar-05-fi-cotown-thq5-story.html |work=Los Angeles Times |access-date=May 1, 2022 |date=March 5, 2009 |archive-date=November 10, 2013 |archive-url=https://web.archive.org/web/20131110081330/http://articles.latimes.com/2009/mar/05/business/fi-cotown-thq5 |url-status=live}} In March 2009, THQ spun off Heavy Iron Studios and Incinerator Studios as independent companies, and announced it was looking to sell Big Huge Games. Two months later in May 2009, THQ agreed to sell Big Huge Games to 38 Studios. In August 2009, THQ acquired Midway Studios San Diego for $200,000. The sale of the studio included all assets, except for the TNA Impact! video game.{{cite web |title=THQ To Obtain Midway's San Diego Studio |url=http://www.gamersdailynews.com/story-12644-THQ-To-Obtain-Midways-San-Diego-Studio.html |website=Gamer Daily News |access-date=August 10, 2009 |date=August 9, 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090813143501/http://www.gamersdailynews.com/story-12644-THQ-To-Obtain-Midways-San-Diego-Studio.html |archive-date=August 13, 2009}} In December 2009, following many lawsuits between the three companies, THQ signed a standalone eight-year deal with the WWE, replacing the THQ/Jakks Pacific joint-venture deal.{{cite web | url=https://corporate.wwe.com/news/company-news/2009/12-23-2009 | title=THQ, WWE AND Jakks Pacific Announce Settlement of Long-Standing Litigation }}

In February 2010, THQ announced that Juice Games and Rainbow Studios would be part of a reshuffle, and would now bear the title THQ Digital Warrington and THQ Digital Phoenix, respectively. The merger reportedly led to 60 job losses between THQ's US Rainbow studio and the UK Juice Game's studio.{{cite web |title=THQ Biggest Loser Works Out for Profit |url=http://news.spong.com/article/20498/THQ-Biggest-Loser-Works-Out-for-Profit |website=SPOnG.com |access-date=February 5, 2010 |date=February 4, 2010 |archive-date=August 28, 2020 |archive-url=https://web.archive.org/web/20200828213423/https://spong.com/article/20498/THQ-Biggest-Loser-Works-Out-for-Profit |url-status=live}}

In August 2010, THQ unveiled the uDraw GameTablet, a $70 accessory for Nintendo's Wii console that let gamers draw and play on their television screens. The white, 9-by-7-inch peripheral houses a Wii Remote on the left, with a doodle pad and tethered stylus on the right. THQ said more software for the uDraw would launch every couple of months.{{cite news |url=https://www.thestar.com/entertainment/2010/08/27/saltzman_katy_perry_gets_her_revenge.html |title=Saltzman: Katy Perry gets her Revenge |first=Marc |last=Saltzman |newspaper=Toronto Star |access-date=May 1, 2022|date=August 27, 2010 |archive-date=August 30, 2010 |archive-url=https://web.archive.org/web/20100830171016/http://www.thestar.com/entertainment/games/article/851814--saltzman-katy-perry-gets-her-revenge |url-status=live}}

In January 2011, THQ sold off its THQ Wireless division to a Swedish mobile company called 24MAS.{{cite web |url=http://www.24mas.com/press-news/press-releases/209-24mas-acquires-thqs-wireless-operations |title=24MAS acquires THQ's Wireless Operations |date=February 8, 2011 |access-date=February 7, 2013 |archive-url=https://web.archive.org/web/20140301173724/http://www.24mas.com/press-news/press-releases/209-24mas-acquires-thqs-wireless-operations |archive-date=March 1, 2014 |url-status=dead}} On January 12, 2011, THQ unveiled its new logo.{{cite web |last=Chester |first=Nick |title=THQ reveals new logo for 'new THQ' (Update) |url=https://www.destructoid.com/thq-reveals-new-logo-for-new-thq-update/ |website=Destructoid |access-date=May 1, 2012 |date=January 12, 2011 |archive-date=October 29, 2012 |archive-url=https://web.archive.org/web/20121029045422/http://www.destructoid.com/thq-reveals-new-logo-for-new-thq-update--191463.phtml |url-status=live}} In March 2011, THQ, after its game Homefront was released, suffered a 26% stock drop. The large drop was speculated to be a result of Homefront's poor reception.{{cite web |url=http://www.thesixthaxis.com/2011/03/16/thq-stock-price-drops-26 |title=THQ Stock Price Drops 26% |website=TheSixthAxis |date=March 16, 2011 |access-date=May 1, 2022 |archive-date=March 19, 2011 |archive-url=https://web.archive.org/web/20110319091955/http://www.thesixthaxis.com/2011/03/16/thq-stock-price-drops-26/ |url-status=live}}

On June 13, 2011, THQ announced the closure of Kaos Studios (the developer of Homefront){{cite magazine |last=Crossley |first=Rob |title=THQ to axe Homefront studio Kaos [Update 2] |url=https://www.mcvuk.com/development-news/thq-to-axe-homefront-studio-kaos-update-2/ |magazine=MCV|access-date=May 1, 2022|date=June 13, 2011 |archive-date=June 16, 2011 |archive-url=https://web.archive.org/web/20110616103606/http://www.develop-online.net/news/38018/THQ-to-axe-Homefront-studio-Kaos |url-status=live}} and THQ Digital Warrington (formerly Juice Games).{{cite magazine |last=French |first=Michael |title=THQ to cut down UK studio [Update 2] |url=https://www.mcvuk.com/development-news/thq-to-cut-down-uk-studio-update-2/ |magazine=MCV |access-date=May 1, 2022 |date=June 13, 2011 |archive-date=June 16, 2011 |archive-url=https://web.archive.org/web/20110616103545/http://www.develop-online.net/news/38017/THQ-to-cut-down-UK-studio |url-status=live}}

On July 27, 2011, THQ announced it was dropping the long-running Red Faction franchise. This was believed to be due to the poor reception over the latest game in the franchise, Red Faction: Armageddon.{{cite web |last=Dutton |first=Fred |title=THQ abandons Red Faction franchise |url=https://www.eurogamer.net/thq-abandons-red-faction-franchise |website=Eurogamer |date=July 27, 2011 |access-date=May 1, 2022 |archive-date=August 7, 2011 |archive-url=https://web.archive.org/web/20110807192932/http://www.eurogamer.net/articles/2011-07-27-thq-abandons-red-faction-franchise |url-status=live}} In the same year on August 9, 2011, THQ announced it would shift its development focus away from licensed kids and movie-based titles by closing down THQ Studio Australia and Blue Tongue in order to focus on "high-quality owned IP." The company also closed down THQ Digital Phoenix (formerly Rainbow Studios), thus dropping the MX vs. ATV franchise.{{cite web |url=https://www.engadget.com/2011-08-09-thq-fires-200-shifts-development-focus-away-from-kids-and-licen.html |title=THQ lets 200 go, shifts development focus away from kids and licensed titles |author=David Hinkle |website=Engadget |date=August 9, 2011 |access-date=May 1, 2022 |archive-date=January 18, 2012 |archive-url=https://web.archive.org/web/20120118181120/http://www.joystiq.com/2011/08/09/thq-fires-200-shifts-development-focus-away-from-kids-and-licen/ |url-status=live}}{{cite web |url=http://www.kotaku.com.au/2011/08/thq-closes-blue-tongue-and-thq-brisbane-to-focus-on-high-quality-owned-ip/ |title=THQ Closes Blue Tongue And THQ Brisbane To Focus On 'High-Quality Owned IP' |author=Mark Serrels |website=Kotaku Australia |date=August 10, 2011 |access-date=August 10, 2011 |archive-date=October 1, 2011 |archive-url=https://web.archive.org/web/20111001080739/http://www.kotaku.com.au/2011/08/thq-closes-blue-tongue-and-thq-brisbane-to-focus-on-high-quality-owned-ip/ |url-status=dead}}{{cite web |url=https://www.engadget.com/2011-08-09-thq-not-to-actively-pursue-further-development-of-mx-vs-atv-fr.html |title=THQ 'not to actively pursue further development' of MX vs ATV franchise |author=Richard Mitchell |website=Engadget|date=August 8, 2011 |access-date=May 1, 2022 |archive-date=March 1, 2012 |archive-url=https://web.archive.org/web/20120301142532/http://www.joystiq.com/2011/08/09/thq-not-to-actively-pursue-further-development-of-mx-vs-atv-fr/ |url-status=live}}

In November 2011, a uDraw for the PlayStation 3 and Xbox 360 was released.{{cite web |last=Eykemans |first=Peter |title=uDraw Gametablet Impressions |url=http://www.ign.com/articles/2011/11/18/udraw-gametablet-impressions |website=IGN |access-date=January 4, 2013 |date=November 18, 2011 |archive-date=December 22, 2012 |archive-url=https://web.archive.org/web/20121222014722/http://www.ign.com/articles/2011/11/18/udraw-gametablet-impressions |url-status=live}} However, it was a commercial failure,{{cite web |last=Dutton |first=Fred |title=THQ details full extent of uDraw disaster |url=https://www.eurogamer.net/thq-details-full-extent-of-udraw-disaster |website=Eurogamer |access-date=May 1, 2022 |date=February 2, 2012 |archive-date=January 9, 2013 |archive-url=https://web.archive.org/web/20130109193251/http://www.eurogamer.net/articles/2012-02-02-thq-details-full-extent-of-udraw-disaster |url-status=live}} and is considered one of the main causes of the financial woes that broke up the company.{{cite news |last=Dodson |first=Don |title=THQ auction clouds Volition future |url=https://www.news-gazette.com/news/thq-auction-clouds-volition-future/article_0fe1ca7e-6c70-5363-b1a7-34bd434b0f01.html|access-date=May 1, 2022 |newspaper=News-Gazette (Champaign-Urbana) |date=January 20, 2013 |archive-date=January 24, 2013 |archive-url=https://web.archive.org/web/20130124062735/http://www.news-gazette.com/news/business/economy/2013-01-20/thq-auction-clouds-volition-future.html |url-status=live}}{{cite news |title=The Break Up – Bankrupt THQ's Assets Sold At Auction |url=https://www.forbes.com/sites/danielnyegriffiths/2013/01/24/the-break-up-bankrupt-thq-assets-sold-at-auction/ |access-date=January 24, 2013 |newspaper=Forbes |date=January 24, 2013 |author=Daniel Nye Griffiths |archive-date=February 16, 2013 |archive-url=https://archive.today/20130216032346/http://www.forbes.com/sites/danielnyegriffiths/2013/01/24/the-break-up-bankrupt-thq-assets-sold-at-auction/ |url-status=live }}

In January 2012, THQ announced that it was exiting the licensed kids game business to focus on adult core gaming, but would continue to sell previously released titles.{{cite news |last1=Savitz |first1=Eric |title=THQ To Exit Kids Game Market; What Now For SpongeBob? |url=https://www.forbes.com/sites/ericsavitz/2012/01/25/thq-to-exit-kids-game-market-what-now-for-spongebob/#8ff10553d8a1 |access-date=October 1, 2017 |work=Forbes |date=January 25, 2012 |language=en |archive-date=October 1, 2017 |archive-url=https://web.archive.org/web/20171001075659/https://www.forbes.com/sites/ericsavitz/2012/01/25/thq-to-exit-kids-game-market-what-now-for-spongebob/#8ff10553d8a1 |url-status=live}} In February 2012, THQ also discontinued the uDraw GameTablet for the same reason.{{cite web |url=https://www.eurogamer.net/thq-details-full-extent-of-udraw-disaster |title=THQ details full extent of uDraw disaster |website=Eurogamer |date=February 2, 2012 |access-date=May 2, 2022|archive-date=January 9, 2013 |archive-url=https://web.archive.org/web/20130109193251/http://www.eurogamer.net/articles/2012-02-02-thq-details-full-extent-of-udraw-disaster |url-status=live}}

In May 2012, THQ reported a net loss of $239.9 million for the fiscal year ending March 31, 2012. The loss was $100 million more than the previous fiscal year's loss of $136.1 million.{{cite web |last=Conditt |first=Jessica |title=THQ sees net loss of $239.9 million, still in business |url=https://www.engadget.com/2012-05-15-thq-sees-net-loss-of-239-9-million-still-in-business.html|website=Engadget |access-date=May 1, 2022 |date=May 15, 2012 |archive-date=July 19, 2012 |archive-url=https://web.archive.org/web/20120719001026/http://www.joystiq.com/2012/05/15/thq-sees-net-loss-of-239-9-million-still-in-business/ |url-status=live}} That same month, Jason Rubin was appointed president of the company.{{cite web |title=Jason Rubin from Naughty Dog Appointed as President of THQ |url=http://www.planetxbox360.com/article_19957/Jason_Rubin_from_Naughty_Dog_Appointed_as_President_of_THQ |website=Planet Xbox360 |access-date=May 30, 2012 |archive-date=September 6, 2012 |archive-url=https://archive.today/20120906072544/http://www.planetxbox360.com/article_19957/Jason_Rubin_from_Naughty_Dog_Appointed_as_President_of_THQ |url-status=dead }}

THQ filed a notice with the SEC on May 25 for a June 29 stockholder's meeting, where THQ asked stockholders to approve a reverse split of the company's common stock.{{cite web |last=Peterson |first=Steve |title=THQ plans reverse stock split |url=http://www.gamesindustry.biz/articles/2012-05-26-thq-plans-reverse-stock-split |work=GamesIndustry.biz |access-date=December 1, 2012 |date=May 26, 2012 |archive-date=October 3, 2012 |archive-url=https://web.archive.org/web/20121003061439/http://www.gamesindustry.biz/articles/2012-05-26-thq-plans-reverse-stock-split |url-status=live}} On June 4, 2012, THQ announced a deal to turn over their license for UFC games to Electronic Arts (EA).{{cite web |last=Plunkett |first=Luke |title=EA Gets the UFC License, Will Make Games For Years, Dana White Looks Uncomfortable |url=https://kotaku.com/ea-gets-the-ufc-license-will-make-games-for-years-dan-5915636 |website=Kotaku |access-date=May 2, 2022 |date=June 4, 2012 |archive-date=June 7, 2012 |archive-url=https://web.archive.org/web/20120607035811/http://kotaku.com/5915636/ea-gets-the-ufc-license-will-make-games-for-years |url-status=live}} In July 2012, THQ reported that its stockholders had approved the 1-for-10 reverse share split of its common stock to avert a delisting from the NASDAQ.{{cite news |title=UPDATE 1-THQ Inc announces 1 for 10 reverse stock split |url=https://www.reuters.com/article/thq-reversestocksplit-idUSL3E8I252V20120702 |website=Reuters |access-date=December 1, 2012 |date=July 2, 2012 |archive-date=August 2, 2012 |archive-url=https://web.archive.org/web/20120802175340/http://www.reuters.com/article/2012/07/02/thq-reversestocksplit-idUSL3E8I252V20120702 |url-status=live}}

On November 13, 2012, THQ reported that they could not repay a $50 million loan from Wells Fargo, and were on the verge of Chapter 11 bankruptcy. With its stock price plummeting from early November values bordering on $3 down to $1.16 and with long-term liabilities of $250 million, THQ was forced to delay the release dates of its flagship titles Company of Heroes 2 and Metro: Last Light to March 2013.{{cite web |title=THQ, Inc. (NASDAQ:THQI) On the Verge of Bankruptcy |url=http://www.gamersdailynews.com/story-29013-THQ-Inc-NASDAQTHQI-On-the-Verge-of-Bankruptcy.html |website=Gamer Daily News |access-date=December 1, 2012 |date=November 13, 2012 |url-status=dead |archive-url=https://web.archive.org/web/20121204163336/http://www.gamersdailynews.com/story-29013-THQ-Inc-NASDAQTHQI-On-the-Verge-of-Bankruptcy.html |archive-date=December 4, 2012}} On November 29, 2012, THQ partnered with Humble Bundle to launch the Humble THQ Bundle in an effort to raise more money.{{cite web |url=http://blog.humblebundle.com/post/36817861850/the-humble-thq-bundle-has-arrived |title=The Humble THQ Bundle Has Arrived |website=Humble Bundle |access-date=August 15, 2016 |archive-url=https://web.archive.org/web/20160914154655/http://blog.humblebundle.com/post/36817861850/the-humble-thq-bundle-has-arrived |archive-date=September 14, 2016 |url-status=dead}} By December 12, 2012, THQ sold nearly 800,000 bundles, raising around $5 million;{{cite web |last=Agnello |first=Anthony J. |title=Humble Bundle THQ sale raises over $2.3 million with help from CEO |url=http://www.digitaltrends.com/gaming/humble-bundle-goes-corporate-with-drm-protected-thq-sale/ |website=Digital Trends |access-date=December 1, 2012 |date=November 30, 2012 |archive-date=December 3, 2012 |archive-url=https://web.archive.org/web/20121203204223/http://www.digitaltrends.com/gaming/humble-bundle-goes-corporate-with-drm-protected-thq-sale/ |url-status=dead}} THQ President Jason Rubin also made a purchase, spending $11,050 on the bundle.{{cite web |url=https://kotaku.com/who-was-the-biggest-beneficiary-of-thqs-5-million-humb-5968744 |title=Who was the Biggest Beneficiary of THQ's $5 Million Humble Bundle? |first=Owen |last=Good |website=Kotaku |date=December 15, 2012 |access-date=May 2, 2022 |archive-date=December 18, 2012 |archive-url=https://web.archive.org/web/20121218235012/http://kotaku.com/5968744/who-was-the-biggest-beneficiary-of-thqs-5-million-humble-bundle |url-status=live}} On December 19, 2012, just days after the Humble THQ bundle ended, THQ filed for Chapter 11 bankruptcy with the intention of selling THQ and all of its assets to Clearlake Capital with Centerview Partners handling the sale.{{cite web |url=https://www.pcgamer.com/thq-bankruptcy/|title=THQ declares bankruptcy, will continue publishing duties |website=PC Gamer |date=December 19, 2012 |access-date=May 2, 2022 |author=Petitte, Omri |archive-date=January 17, 2014 |archive-url=https://web.archive.org/web/20140117145355/http://www.pcgamer.com/2012/12/19/thq-bankruptcy |url-status=live}}{{cite web |url=http://www.centerviewpartners.com/transactions.aspx?c=2 |title=Transactions |website=Centerview Partners |access-date=August 23, 2013 |archive-url=https://web.archive.org/web/20130928113158/http://www.centerviewpartners.com/transactions.aspx?c=2 |archive-date=September 28, 2013 |url-status=dead}} Skip Paul, a former colleague of Jason Rubin, helped orchestrate the proposed stalking horse bid from Clearlake Capital Group.{{cite news |url=https://www.nytimes.com/2010/04/26/business/media/26paul.html|title=Longtime Hollywood Hand Is Joining Boutique Bank |last=Barnes |first=Brooks |work=The New York Times |date=April 25, 2010 |access-date=September 10, 2013 |archive-date=September 29, 2013 |archive-url=https://web.archive.org/web/20130929082230/http://www.nytimes.com/2010/04/26/business/media/26paul.html?_r=0 |url-status=live}}

However, the bid was ultimately denied by Judge Mary F. Walrath and creditors instead approved an individual auction of THQ's properties, which went ahead on January 22, 2013, one day prior to closure.{{cite web |url=https://www.pcgamer.com/thqs-franchises-and-studios-to-be-auctioned-off-on-a-title-by-title-basis/ |title=THQ's franchises and studios to be auctioned off on a "title by title" basis |last=Savage |first=Phil |website=PC Gamer |date=January 8, 2013 |access-date=May 2, 2022 |archive-date=January 13, 2013 |archive-url=https://web.archive.org/web/20130113182217/http://www.pcgamer.com/2013/01/08/thqs-franchises-and-studios-to-be-auctioned-off-on-a-title-by-title-basis/ |url-status=live}}{{cite web |url=http://www.tomshardware.com/news/THQ-Franchises-Up-for-Sale,20261.html |title=THQ's Quick Sale Denied, Individual Franchises Up for Offer |website=Tom's Hardware |date=January 9, 2013 |access-date=August 23, 2013 |archive-date=July 17, 2013 |archive-url=https://archive.today/20130717081404/http://www.tomshardware.com/news/THQ-Franchises-Up-for-Sale,20261.html |url-status=live }} At the auction, the Homefront franchise was acquired by Crytek (and was later acquired by Koch Media),{{cite web |last=Pereira |first=Chris |date=July 30, 2014 |url=http://www.gamespot.com/articles/crytek-no-longer-developing-homefront-sells-rights/1100-6421395/ |title=Crytek No Longer Developing Homefront, Sells Rights to Publisher Deep Silver |website=GameSpot |access-date=July 30, 2014 |archive-date=August 2, 2014 |archive-url=https://web.archive.org/web/20140802021628/http://www.gamespot.com/articles/crytek-no-longer-developing-homefront-sells-rights/1100-6421395/ |url-status=live}} Relic Entertainment and the video game rights to the Warhammer 40,000 series were sold to Sega, and the publishing rights to Turtle Rock Studios' Evolve and the WWE series were acquired by Take-Two Interactive. Ubisoft acquired THQ Montreal and the publishing rights to South Park: The Stick of Truth while Volition and the publishing rights to the Metro and Saints Row franchises were acquired by Koch Media. Vigil Games and THQ's publishing unit were still included in the Chapter 11 case, although all employees related to these entities were laid off.{{cite news |title=THQ bankruptcy auction closes; video game rivals pick up assets |url=https://www.latimes.com/entertainment/envelope/la-xpm-2013-jan-23-la-fi-ct-thq-auction-20130124-story.html |work=Los Angeles Times |access-date=May 2, 2022|date=January 23, 2013 |first=Ben |last=Fritz |archive-date=January 31, 2013 |archive-url=https://web.archive.org/web/20130131184554/http://articles.latimes.com/2013/jan/23/business/la-fi-ct-thq-auction-20130124 |url-status=dead}}{{cite news |url=https://www.bloomberg.com/news/articles/2013-02-13/take-two-to-take-over-development-of-wwe-games-from-thq |title=Take-Two to Take Over Development of WWE Games From THQ |website=Bloomberg |date=February 13, 2013 |access-date=May 2, 2022 |first=Michael |last=Bathon |archive-date=February 16, 2013 |archive-url=https://web.archive.org/web/20130216052744/http://www.bloomberg.com/news/2013-02-13/take-two-to-take-over-development-of-wwe-games-from-thq.html |url-status=live}}{{cite web |url=http://www.ign.com/articles/2013/01/23/thq-dissolved-saints-row-company-of-heroes-darksiders-devs-acquired |title=THQ Dissolved, Saints Row, Company of Heroes Devs Acquired |last=Goldfarb |first=Andrew |website=IGN |date=January 23, 2013 |access-date=January 23, 2013 |archive-date=February 16, 2013 |archive-url=https://archive.today/20130216060055/http://www.ign.com/articles/2013/01/23/thq-dissolved-saints-row-company-of-heroes-darksiders-devs-acquired |url-status=live }} In a posting on Twitter on January 23, PlatinumGames' producer Atsushi Inaba expressed interest in acquiring the Darksiders franchise from THQ.{{cite web |title=Platinum Games boss expresses interest in buying Darksiders on Twitter |url=http://www.polygon.com/2013/1/23/3909506/platinum-games-boss-expresses-interest-in-buying-darksiders-on-twitter |website=Polygon |access-date=January 24, 2013 |date=January 24, 2013 |archive-date=January 27, 2013 |archive-url=https://web.archive.org/web/20130127004952/http://www.polygon.com/2013/1/23/3909506/platinum-games-boss-expresses-interest-in-buying-darksiders-on-twitter |url-status=live}}

On February 26, THQ announced that it would sell off its remaining properties – the Darksiders, Homeworld, Red Faction, and Destroy All Humans! franchises, as well as its licensed and original properties – in a court-approved auction which would be held from April 1 to 15, with the process completed by May.{{cite web |last=Parker |first=Laura |url=https://www.gamespot.com/articles/thq-to-sell-remainder-of-intellectual-properties/1100-6404541/ |title=THQ to sell remainder of intellectual properties |website=Gamespot |date=February 26, 2013 |access-date=May 2, 2022 |archive-date=September 16, 2013 |archive-url=https://web.archive.org/web/20130916203542/http://www.gamespot.com/news/thq-to-sell-remainder-of-intellectual-properties-6404541 |url-status=live}} Around the same time, THQ shut down the servers to the 2012 remake of Nexuiz, which was developed by IllFonic.{{cite web |url=http://www.polygon.com/2013/2/27/4037348/nexuiz-xbox-360-servers-taken-offline |title=Nexuiz Xbox 360 servers taken offline |last=Tach |first=Dave |date=February 27, 2013 |website=Polygon |access-date=August 13, 2016 |archive-date=August 14, 2016 |archive-url=https://web.archive.org/web/20160814212140/http://www.polygon.com/2013/2/27/4037348/nexuiz-xbox-360-servers-taken-offline |url-status=live}} In June 2013, Interplay Entertainment acquired the rights to the Freespace franchise from THQ.{{Cite web|url = https://www.pcgamer.com/freespace-ip-returns-to-interplay-for-just-7500|title = Freespace IP returns to Interplay for just $7,500|website = PC Gamer|date = June 7, 2013|last1 = Savage|first1 = Phil|access-date = October 11, 2021|archive-date = October 29, 2021|archive-url = https://web.archive.org/web/20211029191320/https://www.pcgamer.com/freespace-ip-returns-to-interplay-for-just-7500/|url-status = live}}

All of THQ's remaining franchises, including the remainder of its original IPs (aside from Homeworld, which was acquired by Gearbox Software, and Drawn to Life, acquired by 505 Games) and licensed software, were auctioned to Nordic Games for $4.9 million in April 2013.{{cite web |title=Going once, going twice! Gearbox picks up Homeworld in THQ auction |url=https://arstechnica.com/gaming/2013/04/going-once-going-twice-gearbox-picks-up-homeworld-in-thq-auction/ |website=Ars Technica |date=April 22, 2013 |access-date=April 23, 2013 |archive-date=April 23, 2013 |archive-url=https://web.archive.org/web/20130423001957/http://arstechnica.com/gaming/2013/04/going-once-going-twice-gearbox-picks-up-homeworld-in-thq-auction/ |url-status=live}} The Nickelodeon game license was acquired by Activision.{{cite web |author=Kim Schmierer |url=http://zoknowsgaming.com/2013/07/31/spongebob-license-bought-activision/ |title=Spongebob License Bought Out By Activision |website=ZoKnowsGaming |date=July 31, 2013 |access-date=October 20, 2016 |archive-url=https://web.archive.org/web/20161019080049/http://zoknowsgaming.com/2013/07/31/spongebob-license-bought-activision/ |archive-date=October 19, 2016 |url-status=dead}} This would later expire, with Nickelodeon licensing out their franchises through various smaller publishers, including Nordic.{{cite web |last1=Romano |first1=Sal |title=THQ Nordic and Nickelodeon to revive several select game titles from the past |url=https://gematsu.com/2018/03/thq-nordic-nickelodeon-revive-several-select-game-titles-past |website=Gematsu |access-date=March 21, 2018 |archive-url=https://web.archive.org/web/20180322082145/https://gematsu.com/2018/03/thq-nordic-nickelodeon-revive-several-select-game-titles-past |archive-date=March 22, 2018 |date=21 March 2018 |url-status=live}}

Creditors initially said the proposed sale of THQ in the bankruptcy court benefited current THQ management, including Rubin.{{cite web |url=https://www.gamasutra.com/view/news/18432/THQs_creditors_cry_foul_over_Clearlake_plans.php |title=Lazard: Blockbuster's Game Expansion No Problem For GameStop |website=Game Developer|date=April 29, 2008 |access-date=May 2, 2022 |archive-date=October 12, 2013 |archive-url=https://web.archive.org/web/20131012101427/http://www.gamasutra.com/view/news/18432/THQs_creditors_cry_foul_over_Clearlake_plans.php#.UObh0YnjksL |url-status=dead}} Presiding Judge Walwrath called these criticisms a "conspiracy theory" on record.In Re: THQ, Inc., et al., Case No. 12-13398-MFW (Bankr. Ct., D. Del.), Transcript of Hearing on January 4, 2013 (pp. 238–239); lines 24-2. A copy may be viewed at the Office of the Clerk, District of Delaware Bankruptcy Court, or by contacting Transcriber Reliable at 302-654-8080. Creditors ultimately released THQ management, including Rubin, of any malfeasance in the company's official plan of liquidation.{{cite web |url=http://www.kccllc.net/thq/document/1213398130528000000000002 |title=Disclosure statement for the first amended Chapter 11 plan of liquidation of THQ Inc. and its affiliated debtors |page=154 |date=May 28, 2013 |access-date=January 16, 2016 |archive-date=May 10, 2015 |archive-url=https://web.archive.org/web/20150510160458/http://www.kccllc.net/thq/document/1213398130528000000000002 |url-status=live}}

The liquidation of THQ also affected other studios; British developer Blitz Games Studios shut down in September 2013, citing financial difficulties. The company's CEO Philip Oliver said that the demise of THQ, who was a major client for the studio, was one of the major contributing factors to the closure.{{cite news |last=Lee |first=Dave |url=https://www.bbc.co.uk/news/technology-24066065 |title=UK games developer Blitz Games Studios shuts down |work=BBC News |date=September 12, 2013 |access-date=September 15, 2013 |archive-date=September 14, 2013 |archive-url=https://web.archive.org/web/20130914215113/http://www.bbc.co.uk/news/technology-24066065 |url-status=live}}

On June 12, 2014, Nordic Games announced that it had acquired the THQ trademark, allowing the studio to publish games under the THQ name.{{cite web |url=http://www.polygon.com/2014/6/12/5805074/thq-trademark-acquired-nordic-games |title=THQ trademark acquired by Nordic Games |website=Polygon |date=June 12, 2014 |access-date=July 27, 2014 |archive-date=July 14, 2014 |archive-url=https://web.archive.org/web/20140714120024/http://www.polygon.com/2014/6/12/5805074/thq-trademark-acquired-nordic-games |url-status=live}} In August 2016, the company was renamed THQ Nordic in an effort to better associate itself with the historic brand.{{cite web |url=https://venturebeat.com/2016/08/12/nordic-games-brings-back-the-thq-name-rebrands-as-thq-nordic/ |title=Nordic Games brings back the THQ name, rebrands as THQ Nordic |first=Dean |last=Takahashi |work=VentureBeat |date=August 12, 2016 |access-date=August 12, 2016 |archive-date=August 19, 2016 |archive-url=https://web.archive.org/web/20160819095734/http://venturebeat.com/2016/08/12/nordic-games-brings-back-the-thq-name-rebrands-as-thq-nordic/ |url-status=live}}

• List of THQ games

{{Reflist}}

• [http://www.thq.com/ Official website] {{Webarchive|url=https://web.archive.org/web/20131223214940/http://www.thq.com/ |date=December 23, 2013 }}
• {{Commons category-inline}}

{{THQ}}

{{Authority control}}

Category:Companies based in Los Angeles County, California

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