Take-Two Wrestles WWE License From THQ
Written Thursday, February 14, 2013 By Lee BradleyView author's profile
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.