THQ selling off remaining IP

THQ selling off remaining IP
Seth Tipps

By Seth Tipps

February 27th 2013 at 8:05AM

Publisher to offload last remaining properties in May

The few IPs that remain to bankrupt publisher THQ are to be auctioned off in May.

The company already held one auction in January, partitioning its major assets amongst some of the industry's key players.

But this still leaves a number of properties unaccounted for, and another auction will be finalised in May.

Owned IPs on offer include Darksiders, Red Faction, Homeworld, MX, Big Beach Sports, Destroy All Humans!, Summoner, and more.

Licensed software up for grabs includes Marvel Super Hero, Supreme Commander, Worms, and others.

Initial bids must be submitted by April 1, 2013, and the deadline for final bids is April 15.

THQ, in consultation with its unsecured creditors committee, will determine the "best and highest bid" for each lot, designate a back-up bid, and present the sales to the court in May for final approval.

The company said it has recieved more than 100 expressions of interest for these franchises.

Bidders must provide: 1) complete identification, including the names of corporate officers or those authorised to act on the bidder’s behalf; 2) written evidence of authority to enter into the anticipated transaction; and 3) proof of financial ability to perform the contemplated transaction.

Bidders who meet these requirements and sign a non-disclosure agreement will recieve confidential information on each lot of titles.

Those interested in making a bid can send their documentation to auction@thq.com.