AGOURA HILLS, Calif., May 6, 2008– THQ Inc. (NASDAQ:THQI) and DreamWorks Animation SKG, Inc. (NYSE: DWA) announced today that they have entered into an exclusive licensing agreement to develop and publish video games based on the studio’s 2010 fall animated feature film. The film, acquired under the working title of Master Mind, is due in theatres on November 5, 2010. The new agreement grants THQ exclusive rights to publish interactive games based on the DreamWorks Animation property for all console and handheld systems, wireless devices and Windows PCs.
“The DreamWorks Animation brand is among the best in animation and storytelling,” said Brian Farrell, President and CEO, THQ.“The superhero theme of the fall 2010 film project lends itself seamlessly to an interactive gaming adventure. DreamWorks’ creative vision and humor will add another dimension to our portfolio, which we believe will help further distinguish both THQ and DreamWorks as leaders in our respective entertainment categories.”
The DreamWorks Animation film is a satirical send-up of the superhero genre, built around the story of a super villain who must find a new motivation after accidentally killing his archrival, Uberman, in the opening scene of the movie.
Jeffrey Katzenberg, CEO of DreamWorks Animation SKG said, "We look forward to working with THQ, who has a tremendous legacy of success in creating games based on animated family films."
Anne Globe, Head of Worldwide Marketing and Consumer Products, DreamWorks Animation, added,“Together with THQ, we are eager to extend the world we are creating behind this film into a broad line of console, interactive and wireless games.”
About DreamWorks Animation SKG
DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fifteen animated feature films, including Shrek, Shrek 2, Shark Tale, Madagascar, Over the Hedge, Shrek the Third and Bee Movie. DreamWorks Animation’s 2008 feature film releases include Kung Fu Panda, in theaters on June 6 and Madagascar: Escape 2 Africa, in theaters on November 7. Monsters vs. Aliens, the Company’s first film produced in 3D, is slated for a domestic release date of March 27, 2009.
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 and www.thqwireless.com. THQ, THQ Wireless and their respective logos are trademarks and/or registered trademarks of THQ Inc.
All other trademarks are trademarks or registered trademarks of their respective owners.
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 licensing agreement with DreamWorks Animation SKG, Inc. to develop interactive games based on one of its upcoming feature films, 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, 2007, 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.
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company’s plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.