THQ Inc. (NASDAQ: THQI) and World Wrestling Entertainment, Inc.
(NYSE:WWE), leaders in video gaming and sports entertainment, today
announced that they have entered into a new eight-year agreement
granting THQ the exclusive worldwide rights to develop and publish video
games based on WWE®’s content effective January 1, 2010.
WWE grants THQ the exclusive worldwide rights to publish interactive
games based on WWE properties across all major gaming platforms and
distribution channels.
Since WWE entered the video game market in 1990, it has been a
recognized leader and one of the top ten best-selling brands since 1995*
according to NPD Group. Through September 30, 2009, THQ has reported net
sales of WWE video games in excess of $1.4 billion.
"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.
"This year’s highly rated WWE SmackDown vs. Raw 2010 video game
demonstrates the innovation and creativity that THQ brings to WWE,” said
Vince McMahon, WWE Chairman and Chief Executive Officer. "This new
licensing agreement will ensure that we continue our tremendous success
in the video game industry in the years to come.”
*Based on US Market brand ranking 1995-November 2009
About World Wrestling Entertainment,
Inc.
World
Wrestling Entertainment, Inc., a publicly traded company (NYSE:
WWE), is an integrated media organization and recognized leader in
global entertainment. The company consists of a portfolio of businesses
that create and deliver original content 52 weeks a year to a global
audience. WWE is committed to family-friendly, PG
content across all of its platforms including television
programming, pay-per-view, digital media and publishing. WWE programming
is broadcast in more than 145 countries and 30 languages and reaches
more than 500 million homes worldwide. The company is headquartered in
Stamford, Conn., with offices in New York, Los Angeles, Chicago, London,
Shanghai, Tokyo, Toronto and Sydney. Additional information on World
Wrestling Entertainment, Inc. (NYSE: WWE) can be found at
corporate.wwe.com.
About THQ Inc.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher
of interactive entertainment software. The company develops its products
for all popular game systems, personal computers and wireless devices.
Headquartered in Los Angeles County, California, THQ sells product
through its global network of offices located throughout North America,
Europe and Asia Pacific. More information about THQ and its products may
be found at www.thq.com.
THQ and the THQ logo are trademarks and/or registered trademarks of THQ
Inc.
Trademarks: All WWE programming, talent names, images, likenesses,
slogans, wrestling moves, trademarks, copyrights and logos are the
exclusive property of World Wrestling Entertainment, Inc. and its
subsidiaries. All other trademarks, logos and copyrights are the
property of their respective owners.
Caution Concerning Forward-Looking Statements about THQ
The statements contained in this press release that are not
historical facts may be "forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations, estimates
and projections about the business of THQ Inc. and its subsidiaries
(collectively referred to as "THQ”), including, but not limited to,
expectations and projections related to the release of WWE video games,
and are based upon management’s current beliefs and certain assumptions
made by management. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements,
including, but not limited to, business, competitive, economic, legal,
political and technological factors affecting our industry, operations,
markets, products or pricing. Readers should carefully review the risk
factors and the information that could materially affect THQ’s financial
results, described in other documents that THQ files from time to time
with the Securities and Exchange Commission, including its Quarterly
Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal
period ended March 31, 2009, and particularly the discussion of risk
factors set forth therein. Unless otherwise required by law, THQ
disclaims any obligation to update its view on any such risks or
uncertainties or to revise or publicly release the results of any
revision to these forward-looking statements. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date of this press release.
Caution Concerning Forward-Looking Statements about WWE
Forward-Looking Statements: This news release contains
forward-looking statements pursuant to the safe harbor provisions of the
Securities Litigation Reform Act of 1995, which are subject to various
risks and uncertainties. These risks and uncertainties include the
conditions of the markets for live events, broadcast television, cable
television, pay-per-view, Internet, entertainment, professional sports,
and licensed merchandise; acceptance of the Company's brands, media and
merchandise within those markets; uncertainties relating to litigation;
risks associated with producing live events both domestically and
internationally; uncertainties associated with international markets;
risks relating to maintaining and renewing key agreements, including
television distribution agreements; and other risks and factors set
forth from time to time in Company filings with the Securities and
Exchange Commission. Actual results could differ materially from those
currently expected or anticipated. In addition to these risks and
uncertainties, our dividend is based on a number of factors, including
our liquidity and historical and projected cash flow, strategic plan,
our financial results and condition, contractual and legal restrictions
on the payment of dividends and such other factors as our board of
directors may consider relevant.
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