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Judge denies THQ bid for quick sale

Warner Bros. Interactive among potential buyers

A US bankruptcy judge has declined THQ of its bid for a quick bankruptcy sale.


The firm's initial sale to Clearlake Capital Group was criticised by the publisher's creditors and a US Trustee last week, who complained that the sale schedule didn't allow suitable time for other parties to meaningfully participate.

US. Bankruptcy Judge Mary F. Walrath sided with creditors, telling lawyers at a recent hearing, "I am not convinced that we are under the gun to have a sale process by [January] 15".

The judge went on to schedule a hearing for January 7, suggesting that involved parties hold discussions in the meantime.

Creditors have also testified that buyers should be able to bid on individual THQ titles. Walrath suggested that the requirement to buy the whole company "may depress bids", and that titles could hold "substantial value" if sold separately.

It also emerged that Warner Bros. Interactive Entertainment is among those interested in bidding for THQ and its assets should the sale process be extended.

It's not the only major games publisher known to be keen on THQ assets; Ubisoft is also said to be seeking a bargain deal and is prepared to hold out until THQ is forced to sell off specific assets, according to reports in December.