News: THQ buys more time in WWE negotiation
THQ has announced that the World Wrestling Federation has extended the deadline for renewing its videogame licence until the end of this year, as the row between the publisher and joint venture partner Jakks Pacific goes on.
According to Wedbush Morgan analyst Michael Pachter the most likely outcome is that THQ will pay off Jakks in order to be able to renegotiate the license on its own – something it’s not currently able to do under the terms of its JV deal.
Pachter explains: “The WWE license is between WWE and a joint venture between Jakks Pacific and THQ. The JV is a legal entity, and neither Jakks nor THQ can enter into a new contract with WWE on their own. Jakks and THQ have sued one another, alleging several breaches.
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