Thursday, December 24, 2009

THQ And WWE Agree To Eight-Year Deal - 23rd December 2009

THQ and WWE have been tangled in legal disputes for half a decade over alleged racketeering and licensing shenanigans, but the litigation is officially over, and according to an announcement yesterday THQ will continue publishing WWE games for another eight years. The messy affair that involved the two companies and toymaker Jakks Pacific will end with a series of payouts, but both THQ and WWE voiced satisfaction with their new agreement.

THQ will pay $13.2 million to the WWE and $20 million to Jakks Pacific to resolve things, according to MCV. The settlement was followed by a new licensing agreement that should make court arguments a distant memory.

“This agreement ensures that WWE games will continue to be an important cornerstone of THQ’s annual release schedule for the long term,” THQ President and CEO Brian Farrell said in a press release. “We look forward to working directly with WWE to expand their brand in the video game space through continued game play innovation and increased online delivery of WWE content.”

WWE echoed those sentiments.

“This year’s highly rated 'WWE SmackDown vs. Raw 2010' video game demonstrates the innovation and creativity that THQ brings to WWE,” WWE Chairman and CEO Vince McMahon stated. “This new licensing agreement will ensure that we continue our tremendous success in the video game industry in the years to come.”




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