AGOURA HILLS, Calif. -- Oct. 18, 2010 -- THQ Inc. (NASDAQ:THQI) and Nickelodeon today announced that they have entered into a new multi-year, licensing agreement, granting THQ the worldwide rights to develop and publish video games based on the highly popular SpongeBob SquarePants franchise. Nickelodeon’s SpongeBob SquarePants has been the No. 1 animated program among kids ages 2 to 11 for more than seven consecutive years.
Under the new agreement, THQ has the right to develop and publish interactive games based on the SpongeBob SquarePants property for the Sony PlayStation®3, Nintendo Wii™ and Microsoft Xbox 360® consoles, the Nintendo DS™ and Sony PSP® handheld systems, and the Xbox LIVE® for the Xbox 360® video game system, PlayStation®Network and Nintendo Wii™ Virtual Console online gaming portals. Scheduled for release in 2011, the first game to be developed under this agreement is being designed to take advantage of the unique capabilities of Nintendo 3DS™, THQ’s highly anticipated uDraw™ GameTablet™ for Wii™, and Kinect™ for Xbox 360®, no controller required.
“Over the last eight years, THQ has been creating quality gaming experiences based on everyone’s favorite animated character who lives in a pineapple under the sea,” said Martin Good, THQ Executive Vice President, Kids, Family, Casual and Global Online Services.“We are pleased to continue our long-standing relationship with Nickelodeon and excited to deliver more SpongeBob SquarePants video game offerings for the multitude of fans worldwide.”
“THQ has consistently demonstrated the ability to seamlessly bring the world of SpongeBob SquarePants to life in the interactive space with quality titles that are memorable and engaging for gamers of all ages,” said Manuel Torres, Senior Vice President, Global Toys, Video Games&Consumer Electronics, Nickelodeon Consumer Products.“We look forward to introducing the next SpongeBob game adventure via THQ’s innovative new platform, the uDraw GameTablet for Wii, which will bring the gaming experience to another exciting level.”
THQ has been developing video games based on SpongeBob SquarePants since 2002, and recently launched top performing titles across all genres, such as SpongeBob Boating Bash (2010) and SpongeBob Truth or Square (2009).* Global life-to-date games shipped for all published SpongeBob video game titles total more than 29 million units. For more information on previously released SpongeBob titles, please visit www.THQ.com. ;
*Source: NPD Group
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 can be found at www.thq.com. THQ, uDraw, uDraw GameTablet and their respective logos are trademarks and/or registered trademarks of THQ Inc.
Nickelodeon, now in its 31st year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the United States and around the world, plus consumer products, online, recreation, books and feature films. Nickelodeon’s U.S. television network is seen in more than 100 million households and has been the number-one-rated basic cable network for 16 consecutive years. For more information or artwork, visit http://www.nickpress.com. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc. (NYSE: VIA, VIA.B).
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 new license agreement for THQ to publish video games based on the SpongeBob SquarePants property, 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, 2010, 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.