As was rumored during the breakup and selloff of THQ, Take-Two Interactive, the parent company of 2K Sports, will take over the licence to make WWE video games. Documents filed today in court say Take-Two, THQ and Yuke's, the Japanese company which developed the wrestling games for THQ, have come to an agreement settling all claims.
Though it is vague as to what role Yuke's may play going forward, Bloomberg News reports that Take-Two will hire THQ employees to work on wrestling games, and that any prior contracts involving THQ, Yuke's and the WWE are now terminated. The filings said THQ had owned a 14 per cent stake in Yuke's, and that had this agreement not been reached, claims by Yuke's and the WWE against the bankrupt THQ could have been more than $US60 million.
Yuke's had developed THQ's wrestling simulation series since 2000. It's receiving $US4.5 million to buy out THQ's stake in the company, which was otherwise worth $US20 million. The WWE was owed $US45 million on a contract running through 2017; it is being paid $US650,000 for any WWE games sold since THQ entered bankruptcy protection in December. The terms of its new deal with Take-Two are unknown.