F O U R T H E Y E

THQ has filed for Chapter 11 and is planning on selling it's assets. The company has reassured customers that South Park: The Stick of Truth, Company of Heroes 2, and Metro: Last Light are still being developed and released as planned.

The full press release:

THQ Inc. Secures Asset Purchase Agreement with Affiliates of Clearlake Capital Group, L.P.
Clearlake Offers to Acquire THQ's Assets Via Section 363 under Chapter 11;
Company Obtains Commitment for Interim Financing to Fund Operations Without Interruption

AGOURA HILLS, Calif.--(BUSINESS WIRE)-- THQ Inc. (NASDAQ: THQI), a leading worldwide developer and publisher of interactive entertainment software, today announced that it entered into an Asset Purchase Agreement with a "stalking horse bidder," affiliates of Clearlake Capital Group, L.P., to acquire substantially all of the assets of THQ's operating business, including THQ's four owned studios and games in development. The sale will allow THQ to shed certain legacy obligations and emerge with the strong financial backing of a new owner with substantial experience in software and technology.

To facilitate the sale, THQ and its domestic business units have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the District of Delaware. The company's foreign operations, including Canada, are not included in the filings. The company has obtained commitments from Wells Fargo and Clearlake for debtor-in possession (DIP) financing of approximately $37.5 million, subject to Court approval.

THQ will continue operating its business without interruption during the sale period, subject to Court approval of THQ's first-day motions. All of the company's studios remain open, and all development teams continue. The company remains confident in its existing pipeline of games. THQ maintains relationships with some of the top independent development studios around the globe. As part of the sale, the company is seeking approval to assume the contracts of these studios, and Clearlake will assume these contracts.

"The sale and filing are necessary next steps to complete THQ's transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQ's deep bench of talent," said Brian Farrell, Chairman and CEO of THQ. "We are grateful to our outstanding team of employees, partners and suppliers who have worked with us through this transition. We are pleased to have attracted a strong financial partner for our business, and we hope to complete the sale swiftly to make the process as seamless as possible."

According to Jason Rubin, who joined THQ as President last May, "We have incredible, creative talent here at THQ. We look forward to partnering with experienced investors for a new start as we will continue to use our intellectual property assets to develop high-quality core games, create new franchise titles, and drive demand through both traditional and digital channels."

Clearlake has agreed to serve as the "stalking horse bidder" for a Section 363 sale process, which allows other interested parties to come forward with competing bids. Aggregate consideration offered by Clearlake for the purchase totals approximately $60 million, including a new $10 million note for the benefit of the company's creditors. The company is asking the Court for a schedule to complete the sale process in about 30 days.

Consumers and retailers should see no changes while the company completes a sale. The new financing will support business operations throughout the period. THQ does not intend to reduce its workforce as a result of the filing, and employees will continue to work their usual schedules and receive normal compensation and benefits, pending customary Court approval.

As is the case after a Chapter 11 filing, THQ expects to receive notice from NASDAQ informing the company that its shares will be delisted from the exchange within nine calendar days of notification.

THQ is being advised by Centerview Partners LLC and FTI Consulting as its financial advisors and Gibson, Dunn & Crutcher as legal counsel. Clearlake is being advised by DLA Piper as legal counsel.

Black Isle Studios is asking for help funding Project V13, formerly Fallout Online.  The funds will go towards creating a proof of concept prototype, which will then be used to raise money for the final project.  Unlike other crowdfunded projects backers won't automatically receive a copy of the game, instead backers will earn badges of varying rank and exclusive forum access for their generosity.  If you would like to contribute visit their website: http://www.blackisle.com/

There's supposed to be an awesome live Deus Ex trailer floating around the internet.  I'll post a link once I find it.

 

And here it is:



 

Note that that is for an unofficial short film based off the video game, with no ties to the Deus Ex film in production from CBS films.

Some new screenshots for GTA V:



 



 



 



 

We've got to do something about these images.

In a recent blog post by Fez creator Phil Fish, he announced the game will go multiplatform sometime in 2013.  He didn't mention which platforms will be seeing the game, so I imagine it'll just be ported to the Wii U.

Project Shield by Nvidia sounds awesome:


CES 2013 has been underway for less than a day and there are already products being announced that will change how we look at technology. For a long time Android enthusiasts have been wondering how long it would take for Android devices to catch up to current gaming consoles. Nvidia had a presentation tonight to let us all know that Android devices have finally caught up. Then they announced Project Shield.

Project Shield, otherwise known as the first awesome bomb dropped on CES 2013 this year, is a handheld gaming device powered by the Tegra 4. It will not only play every Android game out there, but it is also capable of playing console games. We’re not talking cheap console games like Magic: The Gathering. We’re talking big titles, like Assassin’s Creed III.

The specs for Project Shield include a 5 inch, 720p, multi touch display with a Tegra 4 processor. It also includes a slot for Micro SD expansion. It will run vanilla Android as well, so no annoying or bloated skins to deal with. It’ll come with the Google Play Store and Gmail.

Seems pretty awesome, but what makes Project Shield great?
The best feature, and the one we’re sure will be most talked about in coming months, is the capacity to stream games from the PC. So you have a game on your PC you want to play, you can play it on Project Shield no problem. Want more? Okay, Project Shield comes with not one, but two ways of bringing that content to your TV. You can stream it from your computer to Project Shield and use the HDMI out port included to put it on your TV. Or, if it supports it, you can also stream to your TV wirelessly. The cherry on top? Nvidia has confirmed that it supports Steam games. So it will be possible to use this to play Steam games on your TV.

We know what you’re thinking and we agree. Just take our money, Nvidia! Who’s going to get one of these when they come out? Also, check back here as we add additional video and photos of Project Shield.


Going to be interesting times for Android gaming, and for consoles of the future.  I've already ordered an Ouya which should be quite cool, and am quite interested to see how this pans out as well...

 

WHOA, WHOA WHOA WHOA WHOA.

 

Back up.

So, am I to understand that I will be able to play "SKYRIM" on an Android device?

crow011 said 
So, am I to understand that I will be able to play "SKYRIM" on an Android device?


That is what they are suggestion.  Technically the Android is just a portal for your PC though.

You ordered a Ouya?

 



 

Edit: That emoticon is suppose to be laughing

 

Tyson said
You ordered a Ouya?


Sure, why wouldn't I?  $100 for a box that not only plays games, but streams media and runs android apps is a bargain.

Can't you just plug your Android into your computer and go from there?

crow011 said
Can't you just plug your Android into your computer and go from there?


Maybe, but the point is I'll be plugging it into my TV.

That's what I'm saying. Can't you just plug your Android device into your TV? Can't you plug your Android into your computer than send the signal to your TV?

If I had a HDTV, I could do that right now.

crow011 said
That's what I'm saying. Can't you just plug your Android device into your TV? Can't you plug your Android into your computer than send the signal to your TV?

If I had a HDTV, I could do that right now.


Sure, you can do that, the Ouya isn't really doing anything fundamentally new. But it you probably won't have a controller, and the android device is most likely to cost more than $100.  And then when I want to use my phone/tablet in another room I have to unplug it.  With the Ouya I'll just leave it plugged into the TV like a set top box.

Cool. Plan on doing any modding or whatnot with it?

http://kotaku.com/5973765/game-changer- ... ect-shield

crow011 said
Cool. Plan on doing any modding or whatnot with it?


Well, I'll most likely install XBMC onto it.  Not sure how much modding I will do, as I'm not really into that at the moment.  Probably better to get a Rasberry PI or something if modding was my goal.

That's an interesting article about Project Shield.  I'm in two minds as to it's real value, though in concept the idea sounds good.  Just not sure how often I'd stream gaming to the tv.

I have doubts as to weather or not Ouya will make it as a "console".  My gut says it won't as I find Android gaming to be pretty underwhelming at the moment, and I question if it will be powerful enough to cope with games likely to come out in the next few years. But I do see the Ouya as a pretty cool media server, which was really my main justification for throwing down money on it.

My first reaction to the Shield was, "Whoa, awesome", but now I'm struggling to see how I would ever use one.

Wanna play PC games? Fire up your PC. Wanna play on your TV? Either plug your PC in your TV, or fire up your Xbox360 etc.

crow011 said
My first reaction to the Shield was, "Whoa, awesome", but now I'm struggling to see how I would ever use one.

Wanna play PC games? Fire up your PC. Wanna play on your TV? Either plug your PC in your TV, or fire up your Xbox360 etc.


Play Skyrim while taking a shit?

 

The possibilities are almost endless, aren't they.

There are a lot of new gadgets coming out. The Ouya, this Project Shield, that rumored Valve console. The next few years are going to be interesting.

UndKeineEier said
There are a lot of new gadgets coming out. The Ouya, this Project Shield, that rumored Valve console. The next few years are going to be interesting.


Apparently it was announced earlier today.

http://www.prnewswire.com/news-releases ... 45182.html

Project Shield sounds great, but a Steam box sounds even better.  Will be interesting to see what it will run - I'd guess a Linux variant, but that beckons the question as to how many games will actually be supported.