The studio wishes to approve of any transfer of the game's license, which includes the use of characters and settings from the television show. It is also possible they may purchase the license outright from THQ, if I'm correctly understanding these court documents filed last week by South Park Studios.
South Park Studios is also seeking lapsed payments totaling $2.275 million from THQ for the use of the license. THQ has said that since the game was exclusive to them, it cannot be sold to another company. Obsidian Entertainment is currently developing South Park: The Stick of Truth and it is still slated for release in early March.
According to Shacknews, various companies such as EA, Ubisoft, Warner Bros., and Double Fine are all interested in various THQ franchises such as Metro, Saints Row, and the WWE license. They are also looking into various THQ studios such as Relic, Volition, Vigil, and THQ Montreal.