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THQ Asset Sales Approved

The hammer has fallen and all bets are final.

The US Bankruptcy Court has just approved the sale of assets for THQ's bankruptcy sale. The sale saw computer game titles both established and in development as well as their related game studios broken up and auctioned off to the highest bidder, not only does this mean that (hopefully) some games will stay alive now that THQ are gone but also that many of the development studios and their staff will keep their jobs for some time, again hopefully as it’s now down to the new owners to decide what they do with their newly purchased items.

It’s been interesting to see certain studios bid for these items but I'm glad they did as THQ has some fantastic game brands, it would have been a shame to see them die. Overall the sale has netter THQ and/or their creditors a whopping $72 million, which has left THQ with an estate valued at $100 million. That number is the grand total of remaining assets and the $72 million in the sale.

The remaining assets will now move into the Chapter 11 process of the bankruptcy, which is effectively wringing them tighter to squeeze money in one form or another and this will continue until all is gone and every penny is found from THQ. Unfortunately it’s now officially confirmed that there is no hope for a restructuring program that would involve the original THQ company to remain intact in any form, fare well to historic gaming legend it seems.