Three high-profile releases have been pushed back next year, forcing the Agoura Hills-based company to raise new capital in an effort to keep going. The games being delayed are "South Park: The Stick of Truth," "Company of Heroes 2" and "Metro: Last Light." Both "Metro" and "South Park" are being delayed for the second time. THQ has retained advisory firm Centerview Partners to help it raise capital. From the LAT:
The game delays will result in far less revenue for THQ in its fiscal fourth quarter this winter than previously planned and a capital crunch for the company, which had only $36.3 million of cash on hand as of Sept. 30. As a result, it is exploring "strategic and financing alternatives," according to a statement, in order to raise more capital. In particular, the company is seeking to "address" $100 million of convertible senior notes due next August that it apparently does not expect to be able to pay back on time.