Tag Archives: Bankrupt

THQ could have survived if it had gone all digital

What’s the difference between THQ and my love life? None, because they’re both dead. Now that the former video game publisher is bereft of life and it’s various franchises divided and scattered to the four corners of the earth, it’s time for a little hindsight. Particularly from former THQ boss Jason Rubin, who laments the fact that THQ never made a move into digital markets.

Atari US files for bankruptcy

There are few game developers on the market these days that have a legacy that lasts beyond a few years. Studios come and go, and last year saw no shortage of developers being forced to close shop. One such prolific developer happens to be Atari. From it’s time as a console giant in an emerging market, to the days it was forced to look towards a new direction developing only games, Atari has been through the best and worst times that the industry could possibly throw at it. And the times they are a changin’, but not for the better, as Atari US has had to file for Chapter 11 bankruptcy.

THQ is dead.. again. Being sold off piece by piece

So our earlier excitement about THQ being saved by Clearlake Capital was put on hold when two separate lawsuits were filed against the deal by creditors who claimed it was a bit of a fishy deal. It looks like they were on to something.

THQ is dead, long live THQ

And so it looks like the numerous reports of THQ’s demise were spot on with THQ officially filing for Chapter 11 Bankruptcy earlier today. However, it isn’t actually all that bad in the end.

It’s the end of the road for 38 Studios and Big Huge Games

Bad news for fans of the ambitious role-playing game Kingdoms of Amalur, as it looks like developer 38 Studios is now shutting down. The company has been laying off staff since Tuesday, due to the underperforming result of its game.

Sony’s losses aren’t as bad as was reported

Yesterday Geoff posted up quite a scary piece about how Sony was about to fire 10 000 people and had made an eye watering loss of $6.4 Billion. The thing is that while Geoff was correct in his post, he was also wrong.

Thanks to a very insightful post over at VG247 it’s easier to understand that Sony’s losses aren’t as bad as previously stated by Sony themselves.

Midway’s Mark Thomas walks away 5000% richer for doing… what exactly?

The world of high finance is a stange thing and something way beyond my abilities as a mere mortal, so I was hoping someone could point me in the right direction as to what is going on here. Mark Thomas a relative unknown in the media world purchased Midway outright from Sumner Redstone last year for $100k and the $70 million debt that the company was currently in. Now fast forward to today where Midway has been declared bankrupt and the vultures have swooped in, I would now presume that Mark's little gamble would have cost him $70 million as he took on the debt of the company... right?