THQ to sell Darksiders, Red Faction and more IPs by May
THQ Inc. today announced it will sell some of its remaining IPs via a court-supervised sale process. This comes a month after THQ sold the majority of its studios and games currently in development as part of its Chapter 11 case. Big titles were auctioned off but there were some that remained. THQ plans to complete the bidding and sale process for the remaining IP assets by mid-May.
The following IP titles will be up for bidding:
*Owned software, including Big Beach Sports, Destroy All Humans!, Summoner, and more
*Other licensed software, including Marvel Super Hero, Supreme Commander, Worms, and more
Initial bids must be submitted by April 1 with final bids due by April 15. THQ, in consultation with its unsecured creditors committee, will determine the best and highest bid for each IP and they will designate a back-up bid. The Court will give final approval of the sales in May.
Interested in buying an IP? Good luck. Not only will it probably cost you a lot of money, you'll also be in stiff competition. THQ has received some 100 expressions of interest in purchasing various titles. There is also a bunch of legal jargon preventing you from buying any of these IPs, plus it's probably best we leave these IPs in capable hands.
The THQ estate received about $72 million last month through court approved sales of three of the company's studios and game in development, along with Evolve, a working title under development at Turtle Rock Studios, Homefront 2, Metro: Last Light, and South Park: The Stick of Truth. Last month's auction, along with the forthcoming sales of the remaining IPs effectively puts an end to THQ, which filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court in December 2012.