There is Hope For THQ Yet
Further to reports of THQ filing for Chapter 11 bankruptcy Jason Rubin, their Community Manager, has issued a statement to offer further clarification of what, precisely, this means for their troubles. You can read the entire article here but in brief summation. THQ are in talks with the Clearlake Capital Group, a private equity firm who, it seems, are essentially giving them money for nothing and cheques for free. Or, in more realistic terms, they're footing the bill to allow THQ the space and time they need to turn things around.
This strikes me as being comparable to the SEGA/Nintendo deal back at the turn of the millennium. When the latter bought the formers debts without expecting much in return. And looking at how well that turned out, it gives me great hope for a positive outcome. I make no secret of my fondness for THQ as a company. I own almost all of their games, and rank many of them amongst my favourites. So anything that allows them to make more, which this deal with Clearlake seems to be offering, is a good thing by me.
On top of the great success of the recent Humble Bundle, it may be premature to say their troubles are entirely behind them. But the tide is most certainly trending in their favour. Providing the details are finalised within thirty days (that's the deadline for this to all work) there's a very real probability of everything going from failure to overwhelming success.
In fact, the amount of time THQ have spent in the news lately may well go in their favour. A lot of people have been watching with baited breath. Who'd have thought losing all your money could prove such a successful business model? Well, nobody actually, since it's usually a very bad thing. I doubt we'll be seeing it become a staple of the industry.
It's because of the stubborn dedication of THQ themselves, and the support of us, the fans, that Clearlake are, in Rubin's words "investing in a new start for our company". What the ultimate outcome will be, of course, is still open to speculation. But I, for one (and I hope you all agree) feel confident in heaving a lengthy sigh of relief.