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THQ Stock Surges Amid Takeover Speculation

Tom Ivan's picture

By Tom Ivan

September 23, 2009

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Rumors that a major media company is planning to make a bid for THQ saw the publisher’s shares jump 13 per cent on Tuesday.

ThinkEquity analyst Atul Bagga told the Wall Street Journal that Time Warner and Viacom “are interested in the gaming space” and could therefore be viewed as potential suitors.

But MKM Partners analyst Eric Handler told Forbes that he doesn’t expect a bid to be made for the UFC, Saints Row and Red Faction publisher in the near term.

In July, THQ posted a first quarter profit of $6.4 million on the back of a 77 per cent jump in sales.