|WWE may not get $45M owed by THQ for license|
|Posted: 22.12.2012 16:31 by JonahFalcon||Comments: 0|
Looks like World Wrestling Entertainment, aka the WWE, won't be getting the $45M owed to it by publisher THQ, thanks to the loan being unsecured. This was revealed in the bankruptcy filing by THQ.
The WWE is none to pleased with the thought it may never see the money again, but are insisting that the lack of payment for the license won't affect the value of the wrestling IP. According to a press release issued by the company, "Any impairment of a current THQ account receivable would be immaterial to WWE’s financial statements. Even if the impact of THQ’s bankruptcy were detrimental to WWE, the Company does not believe that the ultimate economic impact for financial statement purposes would materially and adversely affect the results of operations or financial position of WWE in light of the strength of the WWE brand and the historical performance of WWE’s video game business."
The UFC is probably ecstatic that THQ their license to Electronic Arts.
WWE '13 is the game released by THQ with the WWE license.