CALABASAS HILLS, Calif.--(BUSINESS WIRE)--Oct. 19, 2004--THQ(R)
Inc. (NASDAQ:THQI) offered comments today concerning the lawsuit filed
by World Wrestling Entertainment Inc. (NYSE:WWE) (the "WWE") earlier
today against JAKKS Pacific, Inc. (NASDAQ:JAKK), THQ and others.
THQ is committed to preserving its rights under the videogame
license with the WWE. THQ believes the WWE is pleased with the manner
in which THQ has managed their brand in the video game category. As
THQ is not directly accused of any wrongdoing in the complaint --
rather the complaint alleges wrongdoing on the part of JAKKS Pacific
and others of which THQ was and is unaware -- THQ is not in a position
to comment on these allegations. In any event, either there is no
basis for terminating the video game license, or THQ expects to be
made whole by those whose conduct is eventually found to be unlawful.
THQ intends to vigorously protect and pursue its rights, if necessary.
The lawsuit has no effect on games currently scheduled for
release, including WWE SmackDown!(TM) vs. Raw(TM), which is scheduled
to ship on November 2.
THQ(R) Inc. is a leading, worldwide developer and publisher of
interactive entertainment software for a variety of hardware platforms
including PC CD-ROM, wireless devices, and those manufactured by Sony
Computer Entertainment America Inc., Nintendo and Microsoft. The THQ
web site is located at www.thq.com. THQ and the THQ logo are
trademarks and/or registered trademarks of THQ Inc.
This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements include, but are not limited to, statements regarding
(i) the relationship among THQ, Jakks Pacific, Inc. and World
Wrestling Entertainment, Inc., (ii) THQ's strategy with respect to the
WWE video game license and (iii) the lawsuit filed by the WWE against
Jakks and THQ. These forward-looking statements are based on current
expectations, estimates and projections about the business of THQ Inc.
and its subsidiaries (collectively referred to as "THQ") and are based
upon management's beliefs and certain assumptions made by management.
Such forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such forward looking statements, including,
but not limited to economic, competitive and technological factors
affecting the operations, markets, products, and pricing of THQ.
Unless otherwise required by law, THQ disclaims any obligation to
update its view on any such risks or uncertainties or to revise or
publicly release the results of any revision to these forward-looking
statements. Readers should carefully review the risk factors and the
information that could materially affect THQ's financial results,
described in other documents that THQ files from time to time with the
Securities and Exchange Commission.
CONTACT: THQ/Media Relations
Liz Pieri, 818-871-8061
Julie MacMedan, 818-871-5090
SOURCE: THQ Inc.