Top News

THQ Seeks Buyer As Sales Slip

Agoura Hills-based videogame maker THQ is looking for a buyer, after reporting less-than-stellar results on Monday afternoon. THQ said it has hired an investment banker to help it consider "strategic alternatives", in hopes of raising additional capital to bring a number of titles to market. The firm said it hired Centerview Partners to help evaluate "strategic and financing alternatives". The announcement came as the firm announced net sales of $107.4M for the three months ended September 30, 2012, down significantly from the similar quarter last year, when it had $146.0M in revenues. The firm also reported a net loss of $21.0M. In a release, THQ Chairman and CEO acknowledged that the game maker "faces a number of opportunities and challenges" due to needing to operate with limited capital resources.





Latest Headlines

Browse Issues


Keep up with all of the latest Southern California high tech news via email (it's free!)

or Cancel