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WWE, THQ and Jakks reach settlement, sign vidgame deal

It looks Word Wrestling Entertainment, toyco Jakks Pacific and game publisher THQ will be departing the ring peacefully, as a three-party settlement will see all claims withdrawn and all litigation ended, without any party admitting any wrongdoing.
December 23, 2009

It looks Word Wrestling Entertainment, toyco Jakks Pacific and game publisher THQ will be departing the ring peacefully, as a three-party settlement will see all claims withdrawn and all litigation ended, without any party admitting any wrongdoing.

The resolution will see THQ paying WWE US$13.2 million and entering into a new eight-year video game license directly with WWE starting January 1, 2010 – three years longer than the renewal term under the previous arrangement between WWE and the THQ/Jakks joint venture. THQ will retain exclusive worldwide rights to publish interactive games based on WWE properties across all major gaming platforms and distribution channels.

THQ will also pay Jakks US$20 million over the next four years, and the THQ/Jakks JV will terminate effective December 31, 2009.

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