Saints Row

THQ? RIP. The Agoura Hills video game publisher that only five years ago had a market value of more than $2 billion sold most of its assets at a bankruptcy auction that closed on Tuesday. Games in development and production studios owned by THQ were bought by a variety of competitors for a total of $72 million, according to documents filed in U.S. Bankruptcy Court in Delaware. That exceeded a "stalking horse" bid THQ had from private investment firm Clearlake Capital Group, which offered to take the entire company private for $60 million.

THQ? RIP. The Agoura Hills video game publisher that only five years ago had a market value of more than $2 billion sold most of its assets at a bankruptcy auction that closed on Tuesday. Games in development and production studios owned by THQ were bought by a variety of competitors for a total of $72 million, according to documents filed in U.S. Bankruptcy Court in Delaware. That exceeded a "stalking horse" bid THQ had from private investment firm Clearlake Capital Group, which offered to take the entire company private for $60 million.

THQ Inc., once one of the largest publishers of video games for children, said it will no longer produce licensed kids titles for traditional game consoles. Instead, the Agoura Hills company announced it will double down on making hard-core games such as Saints Row: The Third, a Mob-themed game that sold 3.8 million copies since its release Nov. 15. "THQ will be a more streamlined organization focused only on our strongest franchises," THQ Chief Executive Brian Farrell said in a statement Wednesday.

THQ Inc. has tapped veteran game designer and former game studio executive Jason Rubin to be president, the Agoura Hills video game publisher announced Tuesday. Rubin's appointment comes amid a top-to-bottom reorganization that the financially beleaguered company initiated late last year when it became apparent that a number of major game titles, including uDraw, would miss sales projections. Rubin's arrival at THQ coincides with an announcement that Danny Bilson, THQ's executive vice president of core games, was leaving "to pursue other interests.

THQ Inc. has tapped veteran game designer and former game studio executive Jason Rubin to be president, the Agoura Hills video game publisher announced Tuesday. Rubin's appointment comes amid a top-to-bottom reorganization that the financially beleaguered company initiated late last year when it became apparent that a number of major game titles, including uDraw, would miss sales projections. Rubin's arrival at THQ coincides with an announcement that Danny Bilson, THQ's executive vice president of core games, was leaving "to pursue other interests.

THQ Inc.'s shares jumped as much as 46% after the Agoura Hills game publisher disclosed that its fourth-fiscal-quarter financials would be less bleak than expected. Bolstered by strong sales of Saints Row: The Third and UFC: Undisputed 3, THQ estimated that revenue for the quarter that ended March 31 probably would come in between $160 million and $170 million, up from the company's previous outlook of $130 million to $150 million. In addition, the company expected narrower losses, between 10 cents and 20 cents a share, compared with earlier expectations for 35 cents to 50 cents.

There's more bad news for THQ Inc. The Agoura Hills video game publisher said revenue for the critical holiday quarter is likely to come in 25% below what it had initially forecast this year. THQ Chief Executive Brian Farrell attributed the shortfall to weak sales of uDraw, a game that lets players draw pictures on a tablet device that's connected wirelessly to consoles. The tablet, which was originally priced between $70 and $80, is now selling for about $50 at retailers such as GameStop.

Video game publisher THQ Inc. of Agoura Hills reported a wider fiscal first-quarter loss as it spent more to develop games such as Saints Row 2 and lowered its annual sales and profit forecasts. THQ lost $27.2 million, or 41 cents a share, compared with a loss of $9.27 million, or 14 cents, a year earlier. Excluding some costs, the loss was 38 cents a share, beating the 39-cent average of analysts' estimates compiled by Bloomberg. Sales in the period ended June 30 rose 32% to $137.

Game publisher THQ Inc. continued to struggle last quarter as its ambitious turnaround efforts have yet to bear fruit. The Agoura Hills company — whose franchises include UFC Undisputed, Saints Row and uDraw — posted wider losses Tuesday on lackluster sales in its first quarter. "We are disappointed in our first-quarter financial performance," said THQ's chief executive, Brian Farrell. "Sales of Red Faction: Armageddon and our licensed kids titles were below our expectations.

Video game publisher THQ has filed for Chapter 11 bankruptcy protection and will seek a buyer to help it recover from years of business and creative missteps. The Agoura Hills company, best known for the "Saint's Row" franchise and World Wrestling Entertainment licensed games, is working with private investment firm Clearlake Capital Group, which has agreed to enter a $60-million "stalking horse" bid for THQ's U.S. assets. Any would-be suitor for THQ would have to offer more than that.

THQ Inc.'s shares jumped as much as 46% after the Agoura Hills game publisher disclosed that its fourth-fiscal-quarter financials would be less bleak than expected. Bolstered by strong sales of Saints Row: The Third and UFC: Undisputed 3, THQ estimated that revenue for the quarter that ended March 31 probably would come in between $160 million and $170 million, up from the company's previous outlook of $130 million to $150 million. In addition, the company expected narrower losses, between 10 cents and 20 cents a share, compared with earlier expectations for 35 cents to 50 cents.

THQ Inc., once one of the largest publishers of video games for children, said it will no longer produce licensed kids titles for traditional game consoles. Instead, the Agoura Hills company announced it will double down on making hard-core games such as Saints Row: The Third, a Mob-themed game that sold 3.8 million copies since its release Nov. 15. "THQ will be a more streamlined organization focused only on our strongest franchises," THQ Chief Executive Brian Farrell said in a statement Wednesday.

There's more bad news for THQ Inc. The Agoura Hills video game publisher said revenue for the critical holiday quarter is likely to come in 25% below what it had initially forecast this year. THQ Chief Executive Brian Farrell attributed the shortfall to weak sales of uDraw, a game that lets players draw pictures on a tablet device that's connected wirelessly to consoles. The tablet, which was originally priced between $70 and $80, is now selling for about $50 at retailers such as GameStop.

Game publisher THQ Inc. continued to struggle last quarter as its ambitious turnaround efforts have yet to bear fruit. The Agoura Hills company — whose franchises include UFC Undisputed, Saints Row and uDraw — posted wider losses Tuesday on lackluster sales in its first quarter. "We are disappointed in our first-quarter financial performance," said THQ's chief executive, Brian Farrell. "Sales of Red Faction: Armageddon and our licensed kids titles were below our expectations.

Video game publisher THQ Inc. of Agoura Hills reported a wider fiscal first-quarter loss as it spent more to develop games such as Saints Row 2 and lowered its annual sales and profit forecasts. THQ lost $27.2 million, or 41 cents a share, compared with a loss of $9.27 million, or 14 cents, a year earlier. Excluding some costs, the loss was 38 cents a share, beating the 39-cent average of analysts' estimates compiled by Bloomberg. Sales in the period ended June 30 rose 32% to $137.

1. Call of Duty: Modern Warfare 3 (Activision Blizzard) 2. Elder Scrolls V: Skyrim (Bethesda Softworks) 3. Battlefield 3 (Electronic Arts) 4. Assassin's Creed: Revelations (Ubisoft) 5. Just Dance 3 (Ubisoft) 6. Madden NFL 12 (Electronic Arts) 7. Uncharted 3: Drake's Deception (Sony) 8. Saints Row: The Third (THQ) 9. The Legend of Zelda: SkywardSword (Nintendo) 10. Batman: Arkham City (Warner Bros. Interactive) *Rankings are based on North American sales of games sold as discs.

Video game publisher THQ Inc. posted a better-than-expected quarterly profit Friday, boosted by sales of its new urban action title "Saints Row." Net income was $12.6 million, or 19 cents a share, for its second quarter ended Sept. 30, compared with a year-earlier loss of $1.4 million, or 2 cents a share. Excluding equity-based compensation expenses, THQ said profit was 25 cents a share, easily beating the average Wall Street target of 3 cents, according to Reuters Estimates.