Analyst: THQ has 50% chance of bankruptcy
Post by StarKiller , 2009-03-03 05:30:11 Source： joystiq Editor：ShirleyTags： THQ
THQ is barely hanging on, according to Janco Partners analyst Mike Hickey, who sees the company's chances of going bankrupt at 50/50. Speaking with the LA Business Journal, the prognosticator points out the publisher currently has mediocre product and is losing cash like it's battling Midway for an award in corporate ineptitude.
THQ CEO Brian Farrell says that talk of an acquisition or bankruptcy "makes for good print and sells newspapers," but notes that the company currently has a plan to get through this tough time. THQ's licensed titles, which are footing some of the blame for the current predicament, have always formed a powerhouse, but those titles don't provide the margins of original games. Currently, the company's fate rests on the performance of Dawn of War 2 and ... 50 Cent: Blood on the Sand.
- •2009 THQ year-to-date sales up 22 percent over 2008
- •THQ publishing Blood Bowl in the UK
- •THQ Promises First Day Support For Natal, Sony's Motion Controller
- •THQ moving Vigil studios to new office
- •THQ Yearly Losses Explode to $431 Million
- •THQ Announces $220 Million in Cuts for 2010
- •THQ Spinning Off Two Developers, Potentially Closing Another
- •Analyst: THQ has 50% chance of bankruptcy
- •THQ Suffers $192 Million Loss, Plans More Layoffs, Appoints New CFO
- •THQ Cuts 100 in Wireless Division
- •THQ signs on for PhysX
- •THQ Reports Substantial $115.3 Million Loss in Q2 2008, Cuts 17% of Staff
