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WWE Responds To THQ Bankruptcy Filing

Richard Gray December 21, 2012 WWE News 3 Comments

WWE issued the following press release regarding THQ filing for bankruptcy:

STAMFORD, Conn., December 20, 2012 – WWE (NYSE:WWE) is listed in THQ, Inc.’s recent bankruptcy filing as an unsecured creditor holding a claim of approximately $45 million reflecting the entirety of the existing multi-year agreement. 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.

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Richard Gray

Richard Gray is the owner and editor of WrestlingNewsWorld.com. Covering the professional wrestling business since 1999, Richard holds a Bachelor of Arts degree from West Virginia University. He is also the owner of Gray Internet Technologies, LLC. and should be contacted with all business matters. You can friend him on Facebook and follow him on Twitter. Email him directly at [email protected].

Adam “Swipe”

… what?
- MicroShift
  
  Basically even if THQ is unable to a single cent on the dollar to their $45 million (read: WWE gets nothing from them and the debt is removed) owed to the WWE, the WWE will not be affected financially.
Matt

I know a few people who work for THQ and since the news a few days ago, they haven't been worried at all. Chapter 11 is the better of the two (chapter 7 means goodbye). With this restructuring I think they can properly evaluate. It would be smart to sell their big titles. They sold the UFC rights over to EA Sports which is a huge movie. WWE is a long time THQ holder, however, I wouldn't mind seeing someone else take a shot at them like EA. EA could get a LOT more copies of the game in people's homes.