Take-Two to Take Over Development of WWE Games From THQ
Feb 13, 2013 - by Steve Gerweck
HQ’s agreement reached with the maker of the “Grand Theft Auto” video-game franchise, WWE and Yuke’s Co., a Japanese- based game-developer that was contracted by THQ to help produce the wrestling video games, will save the company millions by reducing claims against the bankrupt video-game maker, according to court documents filed yesterday.
“By working together to transition development of WWE games going forward the parties have minimized the harm to WWE and Yuke’s, which have, in turn, agreed to substantial reductions of their claims” against THQ, lawyers for the company said in court papers. The lawyers said without the agreement, WWE and Yuke’s claims “would certainly exceed $30 million and might exceed $60 million.”
THQ, the maker of the “Saints Row” and “Company of Heroes” video games, failed in its effort to survive the bankruptcy reorganization intact as individual titles and studios were gobbled up by competitors at an auction last month. Most of its assets were sold at the auction, bringing in about $72 million. The remaining assets at the company, including the “Darksiders” franchise, are worth about $29 million, according to THQ attorney Jeffrey C. Krause.
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