THQ, WWE, JAKKS Pacific Reach Settlements

THQ Inc., World Wrestling Entertainment, Inc., and JAKKS Pacific, Inc. have reached settlement agreements with respect to the WWE video game and toy licenses, and the THQ/JAKKS Pacific joint venture.

Under the three-party settlement, all claims have been withdrawn and all litigation ended among the parties without any party admitting any wrongdoing. THQ will pay WWE $13.2 million and, additionally, THQ has entered into a new eight-year video game license directly with WWE starting January 1.  The license is three years longer than the renewal term under the previous arrangement.

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WWE Extends THQ and JAKKS Pacific Licensing Deadline

The World Wrestling Entertainment (WWE) has extended a deadline for THQ and JAKKS Pacific to agree on if they want to renew their joint venture’s licensing deal for the wrestling company. THQ says that the two companies have until December 31, the date their current license expires, to decide if they want to renew the joint deal through December 31, 2014.