More bad news for videogame publisher THQ

thq.jpgThree 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.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Tech stories:
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
New York Times writers can now say 'email' and 'website'
Walt Mossberg, Kara Swisher split with WSJ
Nissan says it will offer self-driving cars by 2020

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook