Forever. Sadly, that’s how long THQ and Jakks Pacific have been fighting over the net rate sales associated their WWE video game series, more pacifically back in 2006 when the net rate increased. Today, that conflict has been settled, declaring THQ the winner.
“As we expected, we have prevailed in this matter,” said James M. Kennedy, THQ’s executive VP of business and legal affairs, in a statement. “We are gratified the arbitrator agreed the preferred return rate to Jakks Pacific on WWE video games will be significantly lower.”
With the net rate now set at 6 percent, THQ will pay Jakks Pacific $34 million for the period between July 1, 2006 and March 31, 2009, which is 23 million less than what it would have owed if it was settled in Jakks favor. Now, at least they can find means on something.