THQ

THQ and World Wrestling Entertainment’s relationship must have been rocky at some point but neither one showed it in public. Yesterday, there was a settlement reached concerning WWE and the game and toy licenses by THQ/JAKKS Pacific LLC.

As part of the resolution, THQ has to pay WWE $13.2 million. THQ also has signed onto a new eight-year video game license starting on January 1, 2010.

THQ doesn’t stop paying there. they also have to pay JAKKS Pacific $20 million over the next four years. Ouch!

“This agreement ensures that WWE games will continue to be an important cornerstone of THQ’s annual release schedule for the long term,” said Brian Farrell, THQ President and Chief Executive Officer. “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.”

“As one of the most successful video game brands, WWE is excited to work directly with THQ to translate WWE’s colorful characters and ever-changing content into exciting and fresh video games for our fans,” said Donna Goldsmith, WWE Chief Operating Officer.

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