[Multi] THQ in talks with a financial sponsor but aren't out of the woods yet THQ has been staring down the barrel a lot recently, but perhaps there might be some light at the end of this tunnel. The company has entered an agreement with Wells Fargo Capital Finance in order to protect itself from defaulting on its credit facility.
Eurogamer reports that the agreement with Wells Fargo means that it won't pursue its right against the publisher on its $50 million credit facility and will allow additional loans. The deal will last until the 15th of January, 2013. THQ has also entered negotiations with a "financial sponsor" regarding their financial alternatives. Don't put on those rose-tinted glasses yet though, THQ has warned that “There can be no assurance these negotiations will result in a transaction.”
“We are pleased to have reached an agreement with Wells Fargo,” said Brian Farrell, boss of THQ. “This agreement enables us to continue focusing on bringing our games in development to market.”
“Meanwhile, we are evaluating financial alternatives that will transition the company into its next phase.”
On top of this a note at the bottom of the statement to the press revealed that Paul Pucino, chief financial officer, has quit the Californian company.
I'm crossing my fingers that THQ can make it through the woods, they've got some good IPs but things are still looking pretty rough.
by Jordan Mallory on Jan 28th 2012 3:00PM Nintendo is coming off of a pretty rough fiscal year, posting an anticipated loss of ¥65 billion ($839M) despite strong sales for Super Mario 3D Land and Mario Kart 7. They're optimistic for the future, naturally, with the 3DS performing well since the price drop and the Wii U right around the corner, but that enthusiasm hasn't been enough to repair the company's trading value.
It's a serious situation with meaningful implications both for stockholders and the industry as a whole, so who better to provide a comprehensive breakdown of the situation than the incomprehensibly bizarre and often disturbing creative powerhouse that is NMA TV. If you've seen any of their other videos, you've got a good idea of what to expect in the media briefing above. If not, you'd better sit down.
The LIVE recording is is now over, you can now listen to the episode. In this episode, we discuss Nintendo’s Financial Results Briefing in-depth, plus we talk more Project Cafe rumors, Bit.Trip Saga for the 3DS, and more!
Do you know what time it is? It’s time for the NintendoFuse Podcast! Join us TONIGHT at 9:30 pm ET as we talk about the latest Nintendo news and rumors. I know there’s big world news going on with the announcement of Osama Bin Laden’s death, but why don’t you take a break from all that and join us in the podcast tonight because we’re talking about Redbox game rentals, Nintendo distributing celebrity Mii’s in Japan, Bit.Trip Saga for the 3DS, a rumor for a new Pokemon Mystery Dungeon game, and more Project Cafe rumors. Plus, we’re going in-depth and discussing all the sales numbers, quotes, and new announcements from Satoru Iwata from the Financial Results Briefing last week. This week’s “Featured Game” is Fragile Dreams: Farewell Ruins of the Moon, and our “Discussion Topic” is “How can Nintendo market the 3DS successfully?” There’s LOTS to discuss, so make sure you tune in TONIGHT at 9:30 pm ET to discuss it all in our LIVE recording!
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Nintendo’s Financial Results Briefing happened in Japan, and here is what I’ve been able to gather from it. I will only post new details/announcements. Please keep in mind that this information may not be entirely accurate. Check it out:
- No new details on the Wii successor, Iwata says it’s a new concept and structure for a home console, details at E3 - Still pushing Wii, will be releasing one title every month to push its performance, Wii Play: Motion is one of the new titles - For the 3DS, they need to offer an incentive to use StreetPass and system updates, so they’ll offer free classic games, Nintendo eShop, and Internet Browser; this will launch end of May - They possibly mention that the 3D Classics version of Excitebike will be distributed for free - Title line-up improves going forward for the 3DS: Dead or Alive on May 19th, Unlimited Cruise on May 26th, Biohazard on June 2nd, Zelda on June 16th, Tales of the Abyss on June 30th, StarFox on July 14th, Kid Icarus is “after Summer”, new titles post-Summer, Super Mario 3DS shown at E3 - For the Virtual Console on the eShop, they have Game Boy and Game Boy Color games, but after that Nintendo wants to add more - Mentions tablets and says that for better gaming responses they need buttons, so they won’t have machines without buttons - Nintendo will accommodate social networking, but will not have their games appear on any non-Nintendo platform - Admitted previously that they relied too much on their own, so now they won’t do everything on their own, expect to see something on that at E3 - They are planning first party releases around third parties - Made a decision to announce the Wii successor because of logistics for getting people to E3, still want surprises at E3 - Vitality Sensor still in development, but the challenge is that it’s easy to make it work for 80% of the people, but very difficult to get that up to 99%
US DS: - Pokemon BW; 2011/03/06 - DQVI; 2011/02/14
US Wii: - Mario Sports Mix 2011/02/07 - Zelda Skyward Sword TBA - Line Attack Heroes TBA (moved to WiiWare) - Monado: Beginning of the World (Xenoblade) TBA
3DS, all regions: - No new announcements - TBA for everything that wasn't already dated in some region - Still no dates for any US software
Third party announcements: - None
Million Seller Highlights:
DS: Black/White: 5.32 million NSMB DS: 26.21 million HeartGold/SoulSilver: 11.72 million Mario Kart DS: 20.7 million Layton 3: 1.87 million (US/EU, JPN published by Level5) Art Academy: 1.52 million Mario vs. Donkey Kong: 1.15 million DQ9: 1.02 million (US/EU, JPN published by Square Enix)
Wii: Wii Sports: 75.66 million Wii Sports Resort: 26.35 million NSMB Wii: 21.28 million SMG2: 6.15 million Wii Fit Plus: 17.74 million Wii Party: 5.07 million DKCR: 4.21 million Mario Kart Wii: 26.5 million Super Mario All-Stars: 1.95 million Kirby's Epic Yarn: 1.38 million
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on Jan 28th 2012 3:00PM
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