Take-Two To Acquire WWE Video Game License From THQ

Submitted by Michael Bluth on February 14, 2013 - 2:51pm
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According to Bloomberg News, Take-Two Interactive Software Inc. will acquire the WWE video game license from the bankrupt THQ Inc.

THQ's contracts with WWE and Yuke’s Co., a Japanese- based game-developer that was helping THQ produce the WWE video games, will be terminated and the companies will be allowed to enter into new agreements with Take-Two.

According to court documents file this week, Take-Two will agree to hire several THQ’s employees that worked on WWE games and WWE will drop its pre-bankruptcy claim against THQ for $45 million, which was for annual royalty advances that ran through 2017. THQ will pay WWE $650,000 in royalty payments for WWE games that were sold while under bankruptcy protection.

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