Tuesday, November 20, 2012

THQ Loses CFO, Nears Financing Deal

Troubled videogame maker THQ said late Tuesday that its CFO, Paul J. Pucino, has resigned, and that the firm is in the midst of negotiations with a "financial sponsor" to provide financing alternatives to the company. The company did not say why Pucino decided to leave the firm. THQ said that the financing may result in "significant and material" dilution to shareholders of the company. THQ has been looking for a buyer for the company, as it has faced decreasing sales and losses over the past few quarters. The firm said earlier this month that it had hired banker Centerview Partners to help shop the firm.