Monday, July 27, 2009
THQ Prevails In Spat With JAKKS Pacific
Agoura Hills-based THQ disclosed this morning that it has prevailed in a binding arbitration with JAKKS Pacific, over WWE video games sold under a license granted by World Wrestling Entertainment. THQ said that the arbitrator has established a "significantly lower" return payment rate to JAKKS Pacific, which will benefit the firm by about $23M. The two firm had disagreed on a rate since July 1st, 2006, and have been battling in court over a number of aspects of their joint licensing of WWE video games rights. Earlier this month, THQ had sued JAKKS over what it said was a unilateral extension of licensing of the WWE video game rights, and last year, THQ won a suit against JAKKS over royalties.