More Bad News For WWE Regarding The THQ Bankruptcy
Posted by Larry Csonka on 01.05.2013
More details on the situation….
According to Bloomberg News, bankruptcy of THQ, the videogame licensee of WWE, will not be quickly sold to Clearlake Capitol Group LLC as expected.
The judge overseeing the case would not grant the sale, noting that ten potential buyers have contacted the court about their interest if there was time to peruse the books. One of those parties interested is Warner Bros. Entertainment. Also, there are some shareholders that believe that there is more money to be made by selling pieces of the company's licenses and businesses off, instead of a straight sale.
WWE is listed in being owed $45 million according to documents and have already stated they "anticipate" the company will be actively participating in the proceedings. Another hearing on the matter is set for this Monday.