www.411mania.com
|  News |  Columns |  TV Reports |  Video Reviews |  Title History |  Hall of Fame |  News Report |  The Dunn List |
SPOTLIGHTS  SPOTLIGHTS
MOVIES/TV
// Deadpool Officially Moving Forward, Gets 2016 Release Date
MUSIC
// J-Lo and Iggy Azalea's Butt-Filled 'Booty' Video Is Full Of Booty Shaking
WRESTLING
// Complete Impact Wrestling Taping Results (SPOILERS)
MMA
// 411's MMA Roundtable Preview - UFC Fight Night: Hunt vs. Nelson
GAMES
// New Multiplayer Gameplay Trailer Released for Battlefield Hardline




 HOT TOPICS
//  CM Punk
//  John Cena
//  Triple H
//  Hulk Hogan
//  Randy Orton
//  Christian
SYNDICATE  SYNDICATE



411mania RSS Feeds





Follow 411mania on Twitter!




Add 411 On Facebook
 


 
 411mania » Wrestling » News

Advertisement
WWE Financials: Company Take on Ending THQ Relationship
Posted by Larry Csonka on 02.28.2013



- WWE released their Fourth Quarter and Full Year financials today. Here is WWE's take on the termination of the THQ agreement and the new agreement with Take-Two…
On December 19, 2012, our video game licensee THQ Inc. ("THQ") declared bankruptcy. As a result, the Company reserved $1.7 million as bad debt for amounts that were due the Company from THQ at December 31, 2012. The amounts reserved primarily related to sponsorship agreements and various services WWE provided to THQ in support of WWE '13. In connection with the termination of our license agreement with THQ, the Company will recognize approximately $8.0 million of revenue during the first quarter of 2013 relating to the unrecognized portion of an advance received when the Company entered into the license agreement with THQ in 2009. Additionally, upon termination of the agreement with THQ, the Company entered into a multi-year agreement with Take-Two Interactive Software, Inc. (Take-Two) to be the Company's video game licensee. As a result of THQ's bankruptcy, the Company will not collect royalties due in the first quarter. The Company has estimated the amount of this economic loss at between $4.0 million to $5.0 million, and does not believe that this loss will have a material adverse effect on the Company's business, financial condition or results of operations.






Must-read wrestling news:
* The Rock says a rematch with John Cena had the most box office appeal
* Who came up with the Jack Swagger/Zeb Colter storyline?
* Chris Jericho: "Triple H is the right guy to take over WWE"
* 411's WWE Main Event report
* The Top 10 Heels of the Week
* 411 Fact or Fiction: Undertaker's Return, Punk vs Cena, More






MUST-READ 411 STORIES:

Top 5 Wanted Movie Re-Releases

A Walk Among the Tombstones Review

This Is Where I Leave You Review


comments powered by Disqus











www.41mania.com
Copyright (c) 2011 411mania.com, LLC. All rights reserved.
Click here for our privacy policy. Please help us serve you better, fill out our survey.
Use of this site signifies your agreement to our terms of use.