MCV/DEVELOP News, events, research and jobs from the games industry
Head of finance at troubled company resigns as publisher enters loan forbearance agreement
Read More »Ubisoft admits to pondering THQ asset swoop
French publisher Ubisoft has stated that it would consider moving for some of THQ’s assets were the company’s troubles to deepen. "They have good things," Ubisoft chairman and CEO Yves Guillemot told Games Industry. "We are always interested in good brands. It’s something we can consider, but I can’t tell …
Read More »THQ’s troubles mount as it defaults on $50m credit
Embattled publisher could face bankruptcy, according to financial break down
Read More »THQ defaults on $50m Wells Fargo credit
Things don’t look to be improving for struggling publisher THQ, with more financial bad news appearing this morning. THQ has revealed that it has defaulted on a $50 million credit facility with lender Wells Fargo, stating that "loan availability on the Credit Facility was less than 12.5 per cent of …
Read More »THQ stocks dive 50% after Q2 report
Poor performance, game delays and possible sale of company spook investors
Read More »UPDATE: Dark times ahead for THQ as stock drops 40%
Things could go from bad to worse for THQ, according to Wedbush Morgan analyst Michael Pachter. Last night the publisher delayed three key releases and scrapped its financial forecasts. Should its financial position continue to deteriorate, we expect THQ to raise financing through an equity sale that could lead to …
Read More »Worrying signs from THQ as it scraps guidance, shuns investor Q&A
THQ may have reported better than expected sales for its last quarter, but the signs are anything but positive for the troubled publisher. Sales for the quarter ending September 30th reached $91.8m, beating expectations. But that’s where the good news ends. Darksiders II sales stand at 1.4m copies, far below …
Read More »THQ hires M&A consultant as finances worsen
Centerview Partners' engagement a sign beleaguered publisher is looking for buyers
Read More »THQ delays South Park game till FY 2014
Metro: Last Light, Company of Heroes 2 also pushed back
Read More »Analyst believes Darksiders II is struggling to break even
Darksiders II has fallen short of THQ’s sales estimates, analyst Michael Pachter has stated. The game sold around 250,000 units in its debut month in the US but has since struggled. Pachter believes that while total sales are probably in excess of 1m units, the game has fallen short of …
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