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 Take-Two Wrestles WWE License From THQ

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PostSubject: Take-Two Wrestles WWE License From THQ   Fri Feb 15, 2013 7:08 am

Rockstar and 2K parent company Take-Two has acquired the WWE licence from THQ.

In an effort to make the transition as smooth as possible, the series will continue to be developed by Yuke’s, the outfit that has produced the games for the past 13 years. Take-Two has also snapped up a number of ex-THQ employees that had previously worked on the series. So it’s business as usual.

The deal is good news for THQ, which was under threat of legal action for incurred losses from both Yuke’s and WWE. According to a Bloomberg report the claims "would exceed $30 million and might exceed $60 million."

“By working together to transition development of WWE games going forward the parties have minimised the harm to WWE and Yuke's, which have, in turn, agreed to substantial reductions of their claims", the report concludes.

Apparently, WWE was owed $45 million before THQ went into bankruptcy, in addition to a further $7.5 million - the annual royalty fee for developing the series. Meanwhile, Yuke's was owed $15-20 million, of which THQ has agreed to pay $4.75 million. The publisher will also return the shares it owns in the studio.

Last month, a THQ auction saw the majority of its assets, including games and studios, auctioned off to the highest bidder.

[Via x360a]


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