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South Park, Metro: LL, Company of Heroes 2 all delayed, THQ looking for cash options

W

Wario64

works for Gamestop (lol)
Mod Note: After presenting their fiscal results, THQ canceled their Q&A session. This is kind of the equivalent of handing your boss a financial report and then jumping out the window.

Via Quentyn said:
The calendar movement for the release of games will likely create a need for additional capital. THQ has engaged Centerview Partners LLC to assist the company in evaluating strategic and financing alternatives intended to improve THQ’s overall liquidity, including raising additional capital, preserve the company’s ability to bring the best possible games to market during the most advantageous release windows and to help address the $100 million 5% convertible senior notes due August 2014.

There can be no assurance that the evaluation of strategic and financing alternatives will result in a transaction or financing, or that, if completed, said transaction and/or financing will be on attractive terms. THQ does not intend to disclose developments with respect to the progress of its evaluation of strategic and financing alternatives until such time as the Board of Directors approves or completes a transaction or otherwise deems further disclosure appropriate.
Click to expand...

http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-newsArticle&ID=1754428&highlight=

Kotaku Via Nibel said:
"When I joined THQ the company made a public commitment to quality titles. We always expected that in some cases this would mean that more time would be needed to make sure that every title is of the highest possible quality," said Jason Rubin, THQ's President. "Our fourth quarter releases are the first titles that I have had the ability to materially impact, and experience told me that the games needed additional development time to be market-ready.

"I believe South Park's market opportunity is significant. It is shaping up to be one of the most anticipated titles of calendar 2013. It is also an expansive title, encompassing multiple television seasons' worth of content. We have been working closely with the co-creators of South Park, Matt Stone and Trey Parker, to make sure all of the game's content performs to the high standards of the TV show, and this takes time. THQ is committed to giving gamers no less than the rich South Park game they have been waiting for and deserve.

"We are also inspired by the potential for Metro: Last Light and Company of Heroes 2. I believe Metro: Last Light is a title that should set standards for visuals with its stunning atmosphere, unique location and cutting-edge style. Company of Heroes was one of the highest rated RTS titles in history, and Relic insists that the sequel live up to its pedigree. Giving both of these titles time to reach their full potential is the right thing to do for the products.

"THQ is excited about our position and pipeline of games beyond fiscal 2013, including the sequel for Saints Row: The Third, Homefront 2 and the as-yet-unannounced game from Turtle Rock Studios. In total we have ten titles in development for fiscal 2014 and later, almost all of which are based on our own IP. We intend to announce more details about our future slate in the coming months.

"I firmly believe releasing our fourth quarter titles without extra time for polish in the current environment would lead to underperformance that could in turn lead to future additional capital shortfalls. But extending development schedules in order to make the best possible titles also has financial implications. Yet there can be no doubt which path has the greatest chance of leading to the long-term success of the company. We must follow the course that generates the highest quality games, and will establish THQ as a mark of quality for the consumer," concluded Rubin.

"Clearly, THQ faces a number of opportunities and challenges," added Brian Farrell, THQ's Chairman and CEO. "I am confident about the opportunities that lie in our robust slate of games and in our studios. But we also face challenges operating with limited capital resources in the highly competitive market for games, and we are working diligently to resolve those challenges."
Click to expand...

jschreier said:
Actually, THQ said "early fiscal 2014," which would mean April-June 2013.
Click to expand...

https://twitter.com/jimreilly/status/265568831722881025

http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-newsArticle&ID=1754428&highlight=


THQ announced today that South Park™: The Stick of Truth™ is now planned for launch worldwide in early fiscal 2014. South Park: The Stick of Truth had previously been slated for release on March 5, 2013.

Additional changes to fiscal 2013 release dates include those for Company of Heroes® 2 and Metro: Last Light, both of which are expected to ship in March, later than initially planned.
 
N

Nibel

Member
Delay if old

"When I joined THQ the company made a public commitment to quality titles. We always expected that in some cases this would mean that more time would be needed to make sure that every title is of the highest possible quality," said Jason Rubin, THQ's President. "Our fourth quarter releases are the first titles that I have had the ability to materially impact, and experience told me that the games needed additional development time to be market-ready.

"I believe South Park's market opportunity is significant. It is shaping up to be one of the most anticipated titles of calendar 2013. It is also an expansive title, encompassing multiple television seasons' worth of content. We have been working closely with the co-creators of South Park, Matt Stone and Trey Parker, to make sure all of the game's content performs to the high standards of the TV show, and this takes time. THQ is committed to giving gamers no less than the rich South Park game they have been waiting for and deserve.

"We are also inspired by the potential for Metro: Last Light and Company of Heroes 2. I believe Metro: Last Light is a title that should set standards for visuals with its stunning atmosphere, unique location and cutting-edge style. Company of Heroes was one of the highest rated RTS titles in history, and Relic insists that the sequel live up to its pedigree. Giving both of these titles time to reach their full potential is the right thing to do for the products.

"THQ is excited about our position and pipeline of games beyond fiscal 2013, including the sequel for Saints Row: The Third, Homefront 2 and the as-yet-unannounced game from Turtle Rock Studios. In total we have ten titles in development for fiscal 2014 and later, almost all of which are based on our own IP. We intend to announce more details about our future slate in the coming months.

"I firmly believe releasing our fourth quarter titles without extra time for polish in the current environment would lead to underperformance that could in turn lead to future additional capital shortfalls. But extending development schedules in order to make the best possible titles also has financial implications. Yet there can be no doubt which path has the greatest chance of leading to the long-term success of the company. We must follow the course that generates the highest quality games, and will establish THQ as a mark of quality for the consumer," concluded Rubin.

"Clearly, THQ faces a number of opportunities and challenges," added Brian Farrell, THQ's Chairman and CEO. "I am confident about the opportunities that lie in our robust slate of games and in our studios. But we also face challenges operating with limited capital resources in the highly competitive market for games, and we are working diligently to resolve those challenges."
Click to expand...

Source
 
S

Sethos

Banned
COH2 !?!!?!

iRu54ICPvLhDE.gif
 
Q

Quentyn

Member
“I believe South Park’s market opportunity is significant. It is shaping up to be one of the most anticipated titles of calendar 2013. It is also an expansive title, encompassing multiple television seasons’ worth of content. We have been working closely with the co-creators of South Park, Matt Stone and Trey Parker, to make sure all of the game’s content performs to the high standards of the TV show, and this takes time. THQ is committed to giving gamers no less than the rich South Park game they have been waiting for and deserve.

“We are also inspired by the potential for Metro: Last Light and Company of Heroes 2. I believe Metro: Last Light is a title that should set standards for visuals with its stunning atmosphere, unique location and cutting-edge style. Company of Heroes was one of the highest rated RTS titles in history, and Relic insists that the sequel live up to its pedigree. Giving both of these titles time to reach their full potential is the right thing to do for the products.
Click to expand...

http://investor.thq.com/phoenix.zhtml?c=96376&p=irol-newsArticle&ID=1754428&highlight=
 
C

Celegus

Member
No biggie, I'd rather wait a bit and have them be that much better for it. Relic sure can make a beast of a game if given the time, although I do sort of wish CoH2 would wrap up so they can work on Dawn of War 3.
 
N

Nirolak

Mrgrgr
I'm honestly very curious where they are getting the money to do this.

They're either almost out of money or illiquid already, so... are they just hoping to have breakout hits before their ability to loan more money runs out?

Edit:

"I firmly believe releasing our fourth quarter titles without extra time for polish in the current environment would lead to underperformance that could in turn lead to future additional capital shortfalls. But extending development schedules in order to make the best possible titles also has financial implications. Yet there can be no doubt which path has the greatest chance of leading to the long-term success of the company. We must follow the course that generates the highest quality games, and will establish THQ as a mark of quality for the consumer," concluded Rubin.

"Clearly, THQ faces a number of opportunities and challenges," added Brian Farrell, THQ's Chairman and CEO. "I am confident about the opportunities that lie in our robust slate of games and in our studios. But we also face challenges operating with limited capital resources in the highly competitive market for games, and we are working diligently to resolve those challenges."
Click to expand...
Ah, it seems they're not quite sure either.
 
G

Glass Rebel

Member
It's hard to stay optimistic about any game with the THQ brand attached to it. I'm rather cynic by nature but I don't remember any company delaying 3 games releasing relatively close together.
 
S

saunderez

Member
Surprise surprise an Obsidian game gets delayed. How refreshing.

Saving these games for the next gen consoles is such a terrible idea too, the install base is going to be insignificant compared to the current potential audience. THQ is done for.
 
C

CrunchinJelly

formerly cjelly
Nirolak said:
I'm honestly very curious where they are getting the money to do this.

They're either almost out of money or illiquid already, so... are they just hoping to have breakout hits before their ability to loan more money runs out?
Click to expand...

They still have Darksider II Wii U and Saints Row 3 GOTY releasing this year to keep them ticking over.
 
N

Nirolak

Mrgrgr
CrunchinJelly said:
They still have Darksider II Wii U and Saints Row 3 GOTY releasing this year to keep them ticking over.
Click to expand...

Looking over the OP again they posted this:

"But we also face challenges operating with limited capital resources in the highly competitive market for games, and we are working diligently to resolve those challenges."

So, it sounds like they're actually looking for a source of money to actually support this idea.
 
E

EatinOlives

Member
Better to go with the "when it's done" route for Obsidian games specifically. We all know what happens when they try to stick to a hard deadline.
 
B

Baconsammy

Banned
Where's all the money continuing to come from to sustain this? Aren't they just releasing bomb after bomb? No offense to Darksiders 2, but it wasnt great in quality or sales.
 
D

Data West

coaches in the WNBA
I like to think that they're running proper QA for an Obsidian game for once.

But I'm pretty sure this is just broke ass THQ pulling an Anarchy Reigns
 
Jibbajabbawockky

Jibbajabbawockky

Member
Early 2013 is going to be so crowded with seemingly everyone rushing to get their last current gen games out before E3 and all the nextgen hype. I just hope South Park doesn't end up with a terrible release date like going up against GTA5 or something now.
 
C

crimsonheadGCN

Banned
I wonder what the 10 in-development games are?

Homefront 2
Turtle Rock Studios game
South Park
Metro: Last Light
Company of Heroes 2
Saint's Row the Fourth
next WWE game (?)
Dawn of War 3 (?)
the former Warhammer MMO (?)
??
 
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