THQ INC. to Sell Certain Remaining Intellectual Properties

  THQ INC. to Sell Certain Remaining Intellectual Properties

  Darksiders, Homeworld, MX vs. ATV, and Red Faction Among Available Assets

Business Wire

AGOURA HILLS, Calif. -- February 26, 2013

THQ Inc. (OTC: THQIQ) today announced that it will sell certain of its
remaining intellectual properties (IP) via a Court-supervised sale process.
Last month, THQ sold the majority of its studios and games in development as
part of its Chapter 11 case. The company expects to complete the bidding and
sale process for these remaining IP assets by mid-May.

The company has designated six lots of IP titles for bidding:

  *Darksiders;
  *Red Faction;
  *Homeworld;
  *MX;
  *Other Owned Software, including Big Beach Sports, Destroy All Humans!,
    Summoner, and more; and
  *Other Licensed Software, including Marvel Super Hero, Supreme Commander,
    Worms, and more.

Each lot’s complete group of titles is listed at the end of this announcement.

Interested bidders must provide: 1) complete identification, including the
names of corporate officers or those authorized to act on the bidder’s behalf;
2) written evidence of authority to enter into the anticipated transaction;
and 3) proof of financial ability to perform the contemplated transaction.
Only those bidders who meet all three requirements will be provided access to
confidential information about each lot of titles once a non-disclosure
agreement has been executed. Documentation meeting these three requirements
should be sent to auction@thq.com.

Initial bids must be submitted by April 1, 2013. Final bids are required by
April 15. The company, in consultation with its unsecured creditors committee,
will determine the best and highest bid for each lot and designate a back-up
bid. In May, the sales will be presented to the Court for final approval.

THQ Inc. has received more than 100 expressions of interest in purchasing
various titles; consequently, a vigorous sale is anticipated. The company has
established a special clearinghouse at auction@thq.com for email questions
about the forthcoming sales.

Last month, the Court approved the sales of three of THQ Inc.’s owned studios
and games in development, as well as Evolve, a working title under development
at Turtle Rock Studios, Homefront 2, Metro: Last Light and South Park: The
Stick of Truth. Under the terms of the agreements with the successful and
approved bidders, the THQ estate received approximately $72 million.

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.

For additional information about THQ, please visit www.thq.com. For
information regarding the Chapter 11 case, please visit www.kccllc.net/thq.

THQ Inc. Caution Concerning Forward-Looking Statements

This press release contains statements that are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations, estimates
and projections about the business of THQ Inc. and its subsidiaries
(collectively referred to as "THQ"), including, but not limited to,
expectations regarding the bankruptcy case. These statements are based upon
management's current beliefs and certain assumptions made by management. Such
forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or implied by
such forward-looking statements, including, but not limited to, the adverse
impact of the bankruptcy case on THQ’s business, financial condition and
results of operations, including its ability to maintain customer and supplier
relationships; the level of interest of prospective bidders in the bidding and
sale process for the remaining IP assets; THQ’s ability to obtain bankruptcy
court approval in connection with the bankruptcy case; the actions of THQ’s
creditors and other third parties with interests in the bankruptcy case;
competitive, economic, legal, political, and technological factors affecting
our industry, operations, markets, products, or pricing. Readers should
carefully review the risk factors and the information that could materially
affect THQ's financial results, described in other documents that THQ files
from time to time with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal period ended March 31, 2012 and
subsequent Quarterly Reports on Form 10-Q, and particularly the discussion of
trends and risk factors set forth therein. Unless otherwise required by law,
THQ disclaims any obligation to update its view on any such risks or
uncertainties or to revise or publicly release the results of any revision to
these forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release.


THQ Official List of Intellectual Property Available for Bidding
Lot 1 - OWNED SOFTWARE
Red Faction                            Red Faction Armageddon
Red Faction 2                           Red Faction: Guerrilla
                                      
Lot 2 - OWNED SOFTWARE
Homeworld                               Homeworld 2

Lot 3 - OWNED SOFTWARE
MX Alive                                MX vs ATV Untamed
MX Superfly featuring Ricky             MX vs. ATV Alive Tournament
Carmichael
MX Unleashed                            MX vs. ATV Unleashed
MX vs ATV Reflex                        MX vs. ATV: On The Edge
                                      
Lot 4 - OWNED SOFTWARE
Darksiders                              Darksiders 2
                                      
Lot 5 - OWNED SOFTWARE
All Star Cheer Squad                    Elements of Destruction
All Star Cheer Squad 2                  Fantastic Pets
All Star Karate                         Frontlines: Fuel of War
Baja: Edge of Control                   Full Spectrum Warrior 1
Battle of the Bands                     Full Spectrum Warrior 2: Ten Hammers
Beat City                               Juiced
Big Beach Sports                        Juiced 2: Hot Import Nights
Big Beach Sports 2                      Lock's Quest: Construction Combat
Big Family Games                        Neighborhood Games
Crawler                                 Pax Imperia
de Blob                                 Stuntman: Ignition
de Blob 2                               Summoner
Deadly Creatures                        Summoner 2
Deep Six                                Terranium
Destroy All Humans!                     The Outfit
Destroy All Humans! 2                   Titan Quest
Destroy All Humans! Big Willy           Titan Quest: Immortal Throne
Unleashed
Destroy All Humans! Path of the Furon   uDraw
Dood's Big Adventure                    World of Zoo
Drawn to Life
Drawn to Life: The Next Chapter
                                      
Lot 6 - LICENSED SOFTWARE (buyer to pay any cure costs)
Costume Quest                           Scripps Spelling Bee (Scripps)
Daniel X (SueJack)                      Sherlock Holmes and the Mystery of
                                        Osborne House
Deepak Chopra's Leela (Curious          Stacking
Holdings)
Fancy Nancy: Tea Party Time! (Harper    Supreme Commander
Collins)
Jeopardy                                Supreme Commander Forged Alliance
Jeopardy 2                              The Biggest Loser
Journey to the Center of the Earth      Truth or Lies
Let's Ride Best of Breed                Vampire Legends: Power of Three (dtp)
Marvel Super Hero Squad: Comic Combat   Wheel of Fortune
Marvel Super Hero Squad: The Infinity   Wheel of Fortune 2
Gauntlet
Marvel Super Hero Squad: The Infinity   World of Zoo
Gauntlet 2
Nancy Drew: The Hidden Staircase        Worms 2
Nexuiz                                  Worms Battle Islands
Paws & Claws Marine Rescue              Worms Open Warfare
Paws & Claws Pampered Pets Resort 3D    Worms: A Space Oddity
PurrPals 2                              Worms: Open Warfare 2 (Team 17)
Rio                                     You Don’t Know Jack (Jellyvision)
Rocket Riot
Screwjumper (Frozen Codebase)          


Contact:

THQ Media Contact:
The Abernathy MacGregor Group, Inc.
Rivian Bell, rlb@abmac.com
Sydney Isaacs, sri@abmac.com
213-630-6550
 
Press spacebar to pause and continue. Press esc to stop.