Take-Two acquires WWE license from defunct THQ

The WWE video game series will live on following an acquisition from Grand Theft Auto publisher Take-Two.

Polygon reports that Take-Two has reached a joint agreement with the WWE, now defunct publisher THQ and Japanese developer Yuke’s, which is the long-term home of the series.

As part of the deal the WWE agreed to waive a significant” chunk of money it was owed by THQ, thought to be around $45m. Yuke’s, too, has agreed to write off the $15m it was owed.

What will happen is that back catalogue sales of THQ’s WWE games will stop and WWE itself will receive around $650k from the ongoing sale of the publisher.

Take-Two will also take delivery of any WWE game assets held by THQ and house the 20 staff that formed THQ’s WWE team.

THQ had previously held the WWE video games rights until 2017.

"At this time, the agreement is pending court approval and we anticipate that it will be finalized shortly,” a Take-Two statement confirmed. We are very excited about the potential of this agreement and will have more to share at the appropriate time."

It remains unclear whether or not a WWE 2014 game will or will not be released.

About MCV Staff

Check Also

Technology and the market will set the cost of triple-A productions – it’s not an inevitable and negative escalation

The idea that the industry will stagnate because of rising costs is a historically flawed argument based on historical data