Bankrupt Game Maker THQ Scores $71M By Splitting Assets

Law360, Wilmington (January 23, 2013, 9:53 PM EST) -- Video game producer THQ Inc. won court approval Wednesday for the results of a bankruptcy auction that dropped the hammer on seven separate deals and brought in about $71 million, nearly $30 million more than the original stalking-horse bid for the entire company.

The sales results vindicate the efforts of the official committee of unsecured creditors, which lobbied to open up the auction procedures to allow piecemeal bidding, believing it offered the best way to maximize value.

U.S. Bankruptcy Judge Mary F. Walrath agreed to sign...
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