Judge Mary Walrath granted a motion for the confirmation of THQ’s auction earlier this week, according to a press release sent early this morning. The decision puts an end to a difficult bankruptcy process for the publisher, and acts as a final ruling against a preliminary objection filed by South Park Digital Studios against The Stick of Truth‘s inclusion in the auctioned off properties. The auction in question lasted 22 hours, and raised $72 million in revenue. A full description of the IP purchases and their buyers can be found here.
“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,” Brian Farrell, chairman and CEO of THQ said in the prepared statement. “It has been my pleasure to work alongside this great group of people, and I am proud of the imaginative and artistic games that our team has created. Although we will no longer be able to work together with a unified mission, I am confident that the talent we have assembled will continue to make an impression on the video game industry. For those whose positions are not likely to continue, I sincerely regret this outcome and we will be meeting with you over the next few days to discuss the transition.”
“I was brought in eight months ago to help turn this ship around, and while I’m disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel.” added Jason Rubin, THQ’s President, “When we first announced the sale process, I said I would be happy if the company’s games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way.”
$29 million in unsold properties remain, which will wait out the rest of the Chapter 11 process alongside the parent company unless bought out beforehand. The WWE franchise was confirmed as still alive via Twitter (and it’s currently rumored that 2K Games is looking to swoop in and claim the IP), but the fate of Vigil Games and its flagship Darksiders franchise remains less clear cut. No bids were offered for the IP or its developer, although Platinum Games expressed interest if the right deal could be reached.