Tag Archives: thq

THQ: Is this the beginning of the end?

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With most of its games delayed, and with the company pulling all financial guidance, looking desperately for more money, and refusing questions from analysts, Gamasutra analyst Chris Morris wonders if there’s a future left.

It’s starting to look like THQ is entering the end game.

The company beat the forecasts of financial analysts Monday, but tempered that good news with a lot of bad. Earnings guidance was suspended. The guidance for the rest of this fiscal year? Just forget about that, said the company. Big games? Delayed – with the biggest being pushed into the next fiscal year. And the money? Running short.

Read more at Gamasutra

2012: The Year of Gaming Woes

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Every industry has down cycles, but for several companies in the videogame space, 2012 can’t end soon enough.

While the year is likely to finish stronger than it started, with the launch of Nintendo’s Wii U console and the return of popular franchises like “Halo 4” and “Call of Duty Black Ops 2,” pretty much everything that could go wrong in the first half of the year has.

Read more at CNBC.com

Hollywood, Gaming Execs Step Into Porn Takeover Battle

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The already hostile takeover fight for New Frontier Media, the publicly traded owner of nine adult-themed pay-per-view networks, has expanded to include a pair of Hollywood power players – one of whom is also a former video game executive.

Longkloof Limited, which launched the bidding in early March, recently announced its intention to nominate four new board members at New Frontier’s annual meeting in an apparent attempt to push its $19 million offer through. (Porn giant Manwin has made a competing $24 million offer for the company.)

Read more at CNBC.com

Opinion: Despite Zelnick’s prediction, THQ not quite on life support

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Take-Two’s CEO was blunt when he recently said THQ would be gone in six months. Gamasutra editor-at-large Chris Morris argues it’ll still be around in 2012, but THQ needs to figure out a gameplan soon.

Industry watchers were treated to a rare bit of executive candor Thursday from Take-Two Interactive Software’s CEO.

Strauss Zelnick’s comment that “THQ won’t be around in six months” was shocking not so much because of his prediction, but because they seemed less like the contrived back-and-forth between Electronic Arts and Activision-Blizzard – and more honest opinion. The bigger question is: Was he right?

Read more at Gamasutra

Troubled THQ fires 240, cuts CEO salary in half

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THQ is taking some drastic measures after a string of sales disappointments.

The game publisher, once the industry’s third largest, has laid off 240 employees and cut its CEO’s salary in half for a year, according to an SEC filing. This follows a recent announcement that the company’s stock might be removed from the NASDAQ stock exchange.

Read more at Yahoo! Games

Troubled Times at Game Maker THQ

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Five years ago THQ was one of the videogame industry’s biggest publishers. Today, the company is struggling to stay afloat.

The troubled game maker is facing a possible delisting from the Nasdaq stock exchange, announced the layoff of 240 employees Wednesday and slashed its CEO’s salary in half for the next year as sales have plummeted. Further, last week the company announced plans to abandon the once lucrative children’s licensed games business to focus on titles for a core audience.

Read more at CNBC.com

Analysis: What’s next for THQ?

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Troubled publisher THQ is massively reorganizing itself yet again, but is the elimination of its licensed kids’ games and 240 members of its staff enough to convince shareholders that the company means it this time?

The cloud hovering over THQ’s corporate head got a lot darker Wednesday – and the long-term forecast is pretty uncertain.

While there’s certainly nothing happy about 240 employees losing their jobs and it’s never a good sign when a CEO slashes his own salary, the actions could be the start of what THQ needs to do to ensure its long-term survival. But they may not be the end.

Read more at Gamasutra

Gamemaker THQ gets delisting notice from Nasdaq

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Video game publisher THQ, which has worked closely with several Hollywood studios throughout the years, is facing a delisting on the Nasdaq stock exchange.

The company, which has partnered with many Hollywood studios, including Dreamworks and Disney in recent years, has filed an 8K form with the Securities and Exchange Commission, announcing it has received a stock delisting notice from the stock market.

Read more at Variety’s Technotainment blog

Analysis: THQ revamps its business strategy a few years too late

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THQ’s announcement Wednesday morning that it was abandoning the kids’ licensed video game industry shouldn’t really have come as a surprise to anyone who has been watching the company lately, but it’s still a move that’s going to alter the structure of the industry.

While it has desperately been trying to change its image for years, THQ is still largely known for its kiddie games. That is, after all, what happens when your company builds its fortunes on titles for the toddler set. The decision to shed that facet of its identity might be coming too late to have a dramatic impact, though.

Read more at Gamasutra

Analysis: THQ’s financial troubles may get worse before they get better

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It may be the industry’s fourth-largest third-party publisher, but with financial woes and no inspiring product schedule to alleviate them, THQ could be facing a possible NASDAQ delisting.

THQ just can’t catch a break these days.

While whispers of the company canceling its entire 2014 lineup were quickly discounted by the company, it can’t deny the dire state of its stock.

Read more at Gamasutra