While THQ doesn’t have as long a history as Atari, who filed for bankruptcy this week, they do feature quite a roster of games, or at least they did. It was announced Wednesday that the game maker, founded in 1989, has been dissolved and most of its assets have been auctioned off to rival companies.
The company filed for bankruptcy on December 19, after defaulting on a $50 million loan in November. Gaming website Kotaku reports that most of THQ’s licenses were sold during a 22-hour auction. Included in the auction was the publishing rights to a completed “South Park” game.
Only one of their franchises, “Darksiders,” received no bids. The company’s World Wrestling Entertainment license, arguably their most profitable, was not up for auction. No word yet on where that will go.
In a letter from CEO Brian Farrell and president Jason Rubin, the company inferred that most employees attached to projects will likely be hired on by that project’s new owner, though no time table was given. THQ was initially founded as a toy company before releasing it’s first game, “Peter Pan and The Pirates,” in 1990.