WWE: We are Following the THQ Bankruptcy Filing

December 20, 2012 -

World Wrestling Entertainment (WWE) issued a very brief statement this week noting that it is paying very close attention to game publisher THQ's Chapter 11 bankruptcy filing and its plan to sell the company to an investment firm. THQ announced yesterday that it had filed for Chapter 11 bankruptcy with the U.S. Bankruptcy Court for the District of Delaware and entered into an "Asset Purchase Agreement" with affiliates of Clearlake Capital Group, L.P., who will serve as a "stalking horse bidder."

The company said that the agreement would allow Clearlake to acquire THQ’s assets including THQ’s four wholly-owned studios, any licenses it currently holds, and all games in development. The company also said that this would not affect operations or any games currently in development.

"WWE is following the developments of THQ’s bankruptcy filing today and proposed sale under Bankruptcy Code Section 363," the company said in a statement yesterday. "The Company anticipates actively participating within this proceeding. "

As a key partner with THQ, WWE has a vested interest in seeing that the company survives. THQ has been the WWE's video game licensing partner (with JAKKS Pacific) for many, many years. Most recently THQ published the wresting game WWE '13 for Xbox 360 and PS3.

 

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