THQ as a company is basically done. Yesterday saw the announcement of what companies were buying THQ's assets. Ubisoft, Sega, and other companies quickly came in to scoop up the current THQ assets and licenses. Gamers breathed a little easier knowing "Saints Row" and the "WWE" franchises (among others) would continue.
This morning the U.S. Bankruptcy Court approved the sale of assets from THQ to the various companies that ponied up the cash. The sales should close today, and would put THQ's total proceeds in at $72 million. When adding in the companies current remaining assets, the total amount of cash they should have is around $100 million.
Brian Farrell, CEO of THQ, issued this statement: "While we had hoped that the restructuring process would allow the company to remain intact, I am heartened that the majority of our studios and games will continue under new ownership."
It's good to hear that studios won't have to be closing. It's bad enough that various THQ employees who can't get in on the sale are losing their jobs, it'd be even worse if studios were closing and losing people in the transition.
Jason Rubin, who recently became the new president of THQ, issued this statement: "I was brought in eight months ago to help turn this ship around," Rubin said, "and while I'm disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel. When we first announced the sale process, I said I would be happy if the company's games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way."
Don't remember THQ for how they ended, nearly broke and selling off everything. Remember all the great games they produced over the years.