WWE News: JAKKS And THQ End Dispute, HHH On Robot Chicken, The Marine 2 Release gets Moved Up, More
Posted by Larry Csonka on 07.27.2009
Some WWE news to kick off the day!
- The Robot Chicken episode with HHH was on last night. The sketch was mocking the guest hosts on Raw, with HHH looking to go home since no one would face him, until Dakota Fanning arrived to promote a children's film and then battled HHH. John Cena would arrive and beat down Fanning with a chair as the film got promoted. Cena didn't actually do any work on the show. [Credit: Pwinsider.com]
- The Marine 2, starring Ted Dibiase, will be released in time for the holiday shopping season on both DVD and Blu-Ray. It is being pushed up from its original 2010 release date. [Credit: Pwinsider.com]
- ClickZNews.com has an article up on the WWE/Gillette online ad campaign, discussing that it features John Cena, Cody Rhodes and Chris Jericho, that it will run for four months with five videos for each talent and more. You can check out the full article here.
- JAKKS Pacific and THQ have ended their dispute regarding the payment on the WWE Video Game. THQ acquired the rights through JAKKS, and WWE is ending their relationship with JAKKS, as they have signed on with Mattel for their action figure line starting in 2010. Here is the full press release:
JAKKS Pacific(R) Announces Result in THQ Arbitration
JAKKS Pacific, Inc. (NASDAQ: JAKK) announced that an arbitration with THQ over the rate of JAKKS' preferred return payment from WWE video game sales generated by the THQ/JAKKS joint venture for the period July 1, 2006 through December 31, 2009, has resulted in a determination by the arbitrator that JAKKS is entitled to receive a preferred return payment at a rate of 6% of net sales of the WWE video games sold by the joint venture, rather than the 10% rate that had been accrued by JAKKS and THQ pending the arbitrator's decision.
The arbitration award requires THQ to pay JAKKS approximately $34 million on account of the preferred return for the period from July 1, 2006 through March 31, 2009. As a result of the decision, JAKKS will reduce its receivable from THQ from approximately $57 million to approximately $34 million and take a non-cash charge of approximately $22.5 million in the second quarter.
The Company will discuss the results of the second quarter in its earnings release scheduled for Tuesday, July 28, 2009 after the stock market closes.
