Uh oh. THQ and JAKKS Pacific are butting heads over the licensing to WWE games. JAKKS want to renew the joint license to create games based on the franchise; publisher THQ are shaking their heads.
The toy company announced today that they've notified the WWE that they wish to renew the deal, which would expire December 31st, 2009, and extend it through December 2014. THQ on the otherhand, aren't feeling it. The publisher filed a lawsuit that said they were "not ready to make a decision with respect to renewal of the WWE videogame license." The publisher's suit claims that they have no obligation to consent to a deal renewal and that JAKKS were "not authorized under the parties' joint venture agreement to unilaterally issue a renewal notice to the WWE."
Sticky situation here. THQ want to, should they choose, be able to toss the deal aside ... but still have the right to publish games based on the WWE license. Both parties have entered arbitration, so this will be one to watch.
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