WWE's Makes Statement on THQ Bankruptcy

Subject: WWE's Makes Statement on THQ Bankruptcy Thu 20 Dec 2012, 12:33 am

http://pwtorch.com/artman2/publish/WWE_News_3/article_67379.shtml

Update: WWE released a statement Wednesday evening addressing their video game partner, THQ, announcing bankruptcy:

"WWE is following the developments of THQ's bankruptcy filing today and proposed sale under Bankruptcy Code Section 363. The Company anticipates actively participating within this proceeding."

Caldwell's Analysis: "Actively participating" is the key phrase. It will certainly lead to speculation on WWE possibly buying assets or making a financial investment in the future of their video games.

*** Original Story Wednesday ***

THQ, the video game partner of WWE, announced Wednesday that the company will file for bankruptcy. THQ, which is a publicly-traded company, also temporarily halted trading of shares.

THQ said the company's assets will be purchased by the "affiliates" of Clearlake Capital, which is a company that describes itself as an investment firm focused on "private equity and special situation transactions."

As part of THQ selling its assets to Clearlake, THQ has filed for Chapter 11 bankruptcy in a U.S. federal court in Delaware. The company stock was last listed at $1.22, down 84 percent year-to-date.

When the news came out Wednesday afternoon, THQ's stock price plummeted as investors sold off shares in a last-ditch effort to salvage their investment. THQ then resumed trading after the stock price bottomed out at $0.57 per share.

Effect on WWE: It remains to be seen how this affects WWE's video game business going forward. One of the key factors will be whether THQ is re-organized following Clearlake's purchase or whether the assets are auctioned off, which could break up the video game company's business model.

Subject: Re: WWE's Makes Statement on THQ Bankruptcy Tue 25 Dec 2012, 7:02 am

http://www.ewrestlingnews.com/news/12337/report-ubisoft-interested-in-purchasing-thq-assets

-- Ubisoft is said to be looking at taking over THQ's assets and the initial belief is that they are exploring getting it for a "bargain basement price". The company has interest in continuing with the WWE franchise. The biggest obstacle is the unpaid royalties to WWE in what is being touted as a breach of contract with THQ.

Subject: Re: WWE's Makes Statement on THQ Bankruptcy Wed 26 Dec 2012, 1:48 am

hopefully they can take it over and make the games good.

Subject: Re: WWE's Makes Statement on THQ Bankruptcy Wed 26 Dec 2012, 3:38 am

Yeah although WWE needs to make sure it will get paid what it is owed.

» Ted DiBiase Sr. Makes a Controversial Religious Statement
» Black History Month: Shaniqua Makes a Statement
» WWEs shocking new action figure revealed
» Blockbuster to file bankruptcy in September
» Veoh Finally Calls It Quits: Layoffs Yesterday, Bankruptcy Filing Soon