THQ gets court OK to sell most assets for $72M

AGOURA HILLS, Calif. – THQ Inc. has received bankruptcy court approval to sell the majority of the company’s assets in pieces for $72 million, the video game publisher said on Thursday.

The court approved sales of three of THQ’s game development studios and the games they were working on, as well as Evolve, a working title under development at Turtle Rock Studios and games such as “Homefront 2” and “South Park: The Stick of Truth.”

The buyers include Sega Corp., which has been approved to buy Relic Studios for $26.6 million and Koch Media GmbH, which was approved to buy Volition Inc. and the game “Metro: Last Light” for a total of $28.2 million. Other buyers include video game publisher Take-Two Interactive Software Inc. and Ubisoft.

“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,” said THQ’s chairman and CEO Brian Farrell in a statement.