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Report: THQ franchises to be auctioned off on title-by-title basis

by John Keefer, shacknews.com, Jan 7, 2013 5:30PM PST

THQ has tried to maintain business as usual since it declared bankruptcy last month, but despite reassuring words from THQ president Jason Rubin, it appears that THQ's game franchises are going to be auctioned off to the highest bidder on a title-by-title basis on January 22.

A tweet from Distressed Debt Investing (via Polygon) revealed the news of the "piecemeal" sale after a hearing before bankruptcy judge Marry Walrath earlier today. Ubisoft, Electronic Arts and Warner Bros. are reportedly interested in the assets, which include Company of Heroes, Saints Row, Homefront and Metro. According to DDI, the auction will be held on January 22nd.

Clearlake Capital had sought to purchase THQ outright, but the judge and creditors balked at the quick turnaround of the proposed deal. DDI said Clearlake has since agreed to sell off THQ's franchises.