THQ Assets to be Sold Title by Title on January 22

THQ's hopes of keeping itself in one piece fell apart today, as creditors won a bid to sell the publisher's individual assets to a number of interested parties. EA, Warner and Ubisoft have been confirmed as potential buyers of select IPs including Homefront, Saints Row and Metro.

The bankrupt publisher attempted to sell its IP library in its entirety to Clearlake Capital, but that plan was scuppered after a judge ruled that multiple buyers would be locked out of the bidding process. Since filing for bankruptcy in December, around ten potential buyers came forward to pick at THQ's individual assets.

Now, following a weekend consulting session, Distressed Debt Investing reports that an auction for all of THQ's assets, on a title-by-title basis, will take place on January 22. "Parties have come to agreement: THQ auction now on Jan 22nd," it said.

"The auction will allow for piecemeal (title by title) sales of THQ assets. EA, a potential buyer of certain titles has completed site visits."

A sad day for a publisher that has done its utmost best to keep original core titles at the forefront of the games industry.