Smacktalks Posted July 1, 2009 Posted July 1, 2009 JAKKS Pacific issued the following press release today regarding the future of the WWE video game license: JAKKS Pacific gives notice to extend WWE videogame license; THQ disputes notice MALIBU, Calif., Jul 01, 2009 (BUSINESS WIRE) -- JAKKS Pacific, Inc. (NASDAQ:JAKK) announced that it has notified World Wrestling Entertainment, Inc. ("WWE") that the joint venture between THQ and JAKKS intended to exercise its option to renew the WWE videogame license, which would otherwise expire on December 31, 2009, for an additional five (5) year term ending December 31, 2014. Separately, THQ commenced a lawsuit in California Superior Court, Los Angeles County, claiming it was not ready to make a decision with respect to renewal of the WWE videogame license, and seeking a declaratory judgment that (i) JAKKS was not authorized under the parties' joint venture agreement to unilaterally issue a renewal notice to WWE, (ii) THQ has no obligation to consent to a renewal of the WWE license, and (iii) the restrictive covenant in the joint venture agreement prohibiting THQ from publishing any videogames based on wrestling during the term of the joint venture agreement (expiring one year after termination of the WWE license) is unenforceable under California law. JAKKS and THQ have also initiated arbitration proceedings relating to these issues. Quote
jitz Posted July 2, 2009 Posted July 2, 2009 This is really turning into one big cluster fuck. WWE has sued Jakk Pacific/THQ for bribing senior officials to give them the license, now Jakks wants to keep the license, and then THQ wants to sue Jakks for deciding they want to keep the license when THQ hadn't made a decision. THQ is in major financial problems, it's a very real scenario that they simply can't afford the license. The irony comes in that the WWE games have been their only games to make them any money. Now till December should be interesting. I don't see Jakks/THQ retaining the license. Quote
Smacktalks Posted July 4, 2009 Author Posted July 4, 2009 Yeah, it definitley appears to be the end of the THQ/Jakks WWE games. In a way i'm glad as it'll mean we'll get something fresh, yet the recent games have been much more improved than past games so i'd like them to stay on if they can continue to improve the games. Quote
ALL STAR Posted July 4, 2009 Posted July 4, 2009 Well if things go the way they are looking and they loose the license the only other company i could see picking it up would be EA. With the TNA license and studio not included in the Midway deal as well could mean we wont see any new wrestling games for awhile. Quote
Fozy Posted July 4, 2009 Posted July 4, 2009 Well, we are since TNA 2 is in the process of being made. Quote
ALL STAR Posted July 4, 2009 Posted July 4, 2009 It is but the studio is on its own now as far as im aware so someone would need to pick up the licese and the studio. Quote
Fozy Posted July 4, 2009 Posted July 4, 2009 It's being made, it's gonna come out. Midway even said to TNA it would come out. Quote
xIFearlessIxx Posted July 6, 2009 Posted July 6, 2009 Whats done is done, words wont change anything. /= Idc if thers a fresh thing, cause Im good with Svr, Give them another chance, SVR 10 Now there saying this is the biggest etc.. all this space or w.e We will see. Quote
ALL STAR Posted July 6, 2009 Posted July 6, 2009 Your post started well then slowly it went into the unkown which is crofts world in which he only understands what he writes. Quote
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