Game Maker THQ Files for Bankruptcy

Videogame maker THQ Inc. filed for Chapter 11 bankruptcy, and said its assets will be acquired by affiliates of private equity firm Clearlake Capital Group L.P. in a roughly $60 million deal.

The company said Clearlake — a so-called “stalking horse bidder,” or the lead bidder in a bankruptcy sale — has agreed to acquire the company’s four studios and its games in development. The sale will allow the videogame company to “shed certain legacy obligations and emerge with the strong financial backing of a new owner with substantial experience in software and technology.”

Read the rest of this post on the original site »

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »