THQ to Receive $6.55MM in IP Sale
THQ Inc. announced that it has completed the bidding and sale process on certain of its intellectual properties (IP) with three buyers emerging to pay $6.55 million for the six available lots, subject to bankruptcy court approval. The company said it filed its motions with the bankruptcy court to obtain approval of these proposed sales.
The $6.55 million sale of the IP assets breaks down as follows:
The company said it expects the Bankruptcy Court to hear the sales motions on May 13, 2013 and to finalize the sale transactions thereafter.
THQ and its domestic business units filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the District of Delaware on Dec. 19, 2012.
Previously on abfjournal.com: