Take-Two CEO says THQ ''Won't Be Around in Six Months''

General news and announcements

Moderator: Content Admins

Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby News Portal » 7 Apr 12, 6:37 pm

Take-Two CEO Strauss Zelnick blames THQ's reliance on licensed properties and low quality games for their recent financial troubles. "Licensed properties leave pulishers at the mercy of license holders", he said, "THQ has some good games, but ... the quality hasn't measured up." THQ representatives have since commented on Zelnick's observations calling them "outdated and innaccurate".

Source: Joystiq

Read full article by GON News
News Portal

User avatar
News news news news news...
 
Offline
Posts: 7039
Joined: 23 Apr 06, 9:01 pm
Location: Internode Server Farm

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby TheOriginalDaniel » 7 Apr 12, 7:04 pm

i5-3570K @3.4GHz(OC'd to 4GHz)|CM V8|Z68 Gen3|G.Skill Ripjaws 8GB DDR3-1600|2x HD5850 1GB|Corsair 500R Black|Corsair HX750W
TheOriginalDaniel

User avatar
Padawan
 
Offline
Posts: 123
Joined: 16 Feb 11, 7:45 pm
Location: Australia,Victoria,Melbourne

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Nekosan » 7 Apr 12, 7:08 pm

Hey THQ, it's not illegal to be creative and create some IP of your own.
Nekosan

User avatar
Offline? What's 'offline'?
 
Offline
Posts: 3790
Joined: 3 Jan 06, 6:23 pm

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Novocaine » 7 Apr 12, 7:11 pm

Low quality games? Metro 2033, DoW and SR3 were **** great.
PLAYGUUU AAHHHH!
Novocaine

User avatar
Forgotten What The Sky Looks Like
 
Offline
Posts: 2588
Joined: 16 Sep 05, 12:37 pm

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Mearehear » 7 Apr 12, 7:15 pm

A good percentage of games developers that want to be financially successful should be made to go play Journey, Minecraft, Limbo, and a few others of note, then sent off to think about it together over a few beers..with luck then they will remember that games with creativity and imagination are flocked to by enthusiastic paying customers.
Mearehear

Game Admin
 
Offline
Posts: 2956
Joined: 15 Jan 10, 8:04 am

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Artful-dodgeR » 7 Apr 12, 7:20 pm

Novocaine wrote:Low quality games? Metro 2033, DoW and SR3 were **** great.


This. The last few thq games I've played has been bloody fun.
wow
so signatur
such post
BBCode ON
Artful-dodgeR

User avatar
Never goes to sleep
 
Offline
Posts: 4262
Joined: 16 May 04, 6:09 pm
Location: Roger Dodger, NSW.

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Marius » 7 Apr 12, 7:21 pm

What's Take Two's link to THQ?
Image
Marius

User avatar
Needs more Cleric
 
Offline
Posts: 6202
Joined: 18 Aug 05, 12:12 am
Location: Getting off the Citadel in time

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Submariner » 7 Apr 12, 8:46 pm

Whoops, can I take 2 it back.
Update: Game Informer has received the following statement from Zelnick regarding his recent comments:

"While discussing our strategy I spoke out of turn about someone else’s. It was inappropriate and I regret it."

http://www.gameinformer.com/b/news/arch ... -long.aspx
Submariner

User avatar
Padawan
 
Offline
Posts: 381
Joined: 23 Sep 05, 10:35 pm
Location: NSW

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby tranquil » 7 Apr 12, 8:50 pm

Guy is nuts, THQ have some awesome games under their belt.
tranquil

User avatar
Offline? What's 'offline'?
 
Offline
Posts: 3502
Joined: 8 Jul 04, 9:59 pm
Location: Melbourne

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Jez » 7 Apr 12, 9:55 pm

I thought a lot of their financial troubles were linked to them overinvesting in some tablet thing?
Jez

User avatar
Forgotten What The Sky Looks Like
 
Offline
Posts: 2944
Joined: 12 Feb 03, 6:14 pm

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby PURITy Kin » 7 Apr 12, 10:03 pm

THQ are one of the good publishers/developers. You know, the good ones.
PURITy Kin

User avatar
Forgotten What The Sky Looks Like
 
Offline
Posts: 2081
Joined: 8 Oct 06, 5:06 pm
Location: D'Nong

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Shinanigans » 7 Apr 12, 11:25 pm

THQ has contacted Joystiq with a response to Take-Two CEO Strauss Zelnick's dire prediction from this afternoon: "Obviously, Mr. Zelnick's perception of THQ is outdated and inaccurate. His comments are irresponsible and false. Perhaps he would be better off commenting on his own business."
http://www.joystiq.com/2012/04/05/thq-t ... -outdated/

O-snap.
Shinanigans

User avatar
Forum Bot
 
Offline
Posts: 5396
Joined: 15 Jan 06, 4:48 pm
Location: Frankfurt, Germany

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Drakand » 8 Apr 12, 12:48 am

Shinanigans wrote:
THQ has contacted Joystiq with a response to Take-Two CEO Strauss Zelnick's dire prediction from this afternoon: "Obviously, Mr. Zelnick's perception of THQ is outdated and inaccurate. His comments are irresponsible and false. Perhaps he would be better off commenting on his own business."
http://www.joystiq.com/2012/04/05/thq-t ... -outdated/

O-snap.


wow, he got pwned.
Image
Drakand

User avatar
Forgotten What The Sky Looks Like
 
Offline
Posts: 2107
Joined: 11 Nov 09, 6:36 pm
Location: In the land of the Descendants of Prometheus!

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Zombywolf » 8 Apr 12, 7:00 pm

Artful-dodgeR wrote:
Novocaine wrote:Low quality games? Metro 2033, DoW and SR3 were **** great.


This. The last few thq games I've played has been bloody fun.


low quality = not popular enough with people who pay the idiot tax.
Without my pants.
Zombywolf

User avatar
Story Teller
 
Offline
Posts: 1869
Joined: 17 Jun 07, 1:50 pm
Location: I LOVE SHOPPING!!!

Re: Take-Two CEO says THQ ''Won't Be Around in Six Months''

Unread postby Adambjjoz » 8 Apr 12, 10:13 pm

You can thank the tanked WWE games they made & the epic-fail UFC Undisputed 3 game (as in, having to call an emergency shareholder meeting to announce mass quarterly losses instead of profits type of epic fail) for a good portion of their troubles. They've also had an absolute stack of Wii/3DS/Vita games cancelled on them & a number of PC/PS3 games pushed out from 2012 to 2013/TBA release dates.

It may not mean the end of them as a company, but when you post massive quarterly losses instead of expected huge profits and your shareholders vote in measures like the entire board of directors & CEO copping a 50% pay cut & bi-annual performance reviews - you know your in the ****. As others have said in here too, if they don't create any IP or content themselves, they have no one to blame when they get led by the leash by stupid license owners into making games that are horrible & nothing short of a cheap cash-grab at the expense of consumers.

Check out this thread for some of the details: http://forums.whirlpool.net.au/forum-re ... 5&p=9#r165

In a statement, the publisher said as part of the restructuring, it is moving away from "mixed martial arts titles and movie-based entertainment properties" for consoles and would shelf their long-running fighting franchise Ultimate fighting championship. Yuke's, the developer behind THQ's UFC, is being shuttered by the publisher.

THQ CEO Brian Farrell will reduce his salary by fifty percent and layoffs from the publisher's recent restructuring total 240 people, according to a new filing with the SEC.

THQ's new filing says Farrell will see his salary reduced from $718,500 to $359,250 for a one−year period beginning February 13, 2012. He will lose additional money if he is fired or resigns during that time. The company's board of directors will also have their salaries reduced by fifty percent for one year. The filing confirms the entire restructuring will see layoffs total 240 employees between now and September.

The majority of the restructuring plan is expected to be implemented by March 31, 2012, with the remainder completed by September 30, 2012. THQ will hold an earnings call tomorrow where it's expected we'll hear more about this restructuring plan. The SEC filing from today can be read here: http://investor.thq.com/phoenix.zhtml?c ... p=irol-sec
Adambjjoz

Regular
 
Offline
Posts: 66
Joined: 1 Aug 05, 5:06 am


Return to News:: General

Who is online

Users browsing this forum: No registered users and 12 guests