{"id":7177,"date":"2013-01-07T14:50:53","date_gmt":"2013-01-07T22:50:53","guid":{"rendered":"http:\/\/wakingideas.com\/blog\/?p=7177"},"modified":"2013-01-07T14:50:53","modified_gmt":"2013-01-07T22:50:53","slug":"thqs-bankruptcy-bid-deadline-extended","status":"publish","type":"post","link":"https:\/\/theculturednerd.org\/?p=7177","title":{"rendered":"THQ&#8217;s Bankruptcy Bid Deadline Extended"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft  wp-image-6955\" alt=\"THQ_Logo\" src=\"http:\/\/wakingideas.com\/blog\/wp-content\/uploads\/2012\/12\/THQ_Logo-300x162.jpg\" width=\"270\" height=\"146\" \/>In a hearing today, U.S. Bankruptcy Judge Mary F. Walrath approved a process that will end in the sale of THQ by <strong>January 23, 2013<\/strong>.\u00a0 This process includes governmental oversight on the sale and distribution of assets for the game maker, as well as settling the\u00a0 $37.5 million bankruptcy loan.<\/p>\n<p>This comes after Walrath denied THQ&#8217;s request to hold an auction on January 4th, only 21 days after the original bankruptcy filing, due to creditor&#8217;s concerns that the time table led to too a rushed sale that did not allow for other companies to submit competing bids to <strong>Clearlake Capital Group LP&#8217;s<\/strong> original amount of approximately $50 million.\u00a0 Now potential buyers will have until January 22nd to submit bids, and in the evening of the 23rd the auction will take place.<\/p>\n<p>This new process will also allow for bids on individual assets and video game titles, a decision which creditors were pushing for.\u00a0 Individual game franchises such as the successful Saint&#8217;s Row series, which has sold over 11 million copies worldwide, can now be bid on by other perspective companies.\u00a0 Among these bidders is <strong>Electronic Arts<\/strong>, which has already completed visits to THQ locations.<\/p>\n<p>More information will be provided in the upcoming weeks as the <strong>January 23rd<\/strong> deadline approaches.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"entry-summary\">\nIn a hearing today, U.S. Bankruptcy Judge Mary F. Walrath approved a process that will end in the sale of&hellip;\n<\/div>\n<div class=\"link-more\"><a href=\"https:\/\/theculturednerd.org\/?p=7177\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;THQ&#8217;s Bankruptcy Bid Deadline Extended&rdquo;<\/span>&hellip;<\/a><\/div>\n","protected":false},"author":5,"featured_media":6955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2],"tags":[95,711],"class_list":["post-7177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-comics-videogames","tag-bankruptcy","tag-thq","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>THQ&#039;s Bankruptcy Bid Deadline Extended - The Cultured Nerd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theculturednerd.org\/?p=7177\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THQ&#039;s Bankruptcy Bid Deadline Extended - The Cultured Nerd\" \/>\n<meta property=\"og:description\" content=\"In a hearing today, U.S. Bankruptcy Judge Mary F. 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