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MORE BAD NEWS FOR WWE VIDEOGAME LICENSEE THQ

By Mike Johnson on 2013-01-05 15:20:56
The bankruptcy of THQ, the videogame licensee of WWE, won't result in a quick and easy sale to Clearlake Capitol Group LLC.

An article by Bloomberg News noted that the judge overseeing the case would not grant the sale, noting that ten potential buyers have contacted the court about their interest if there was time to peruse the books, including Warner Bros. Entertainment.

There are also shareholders who believe there is more money to be made by selling pieces of the company's licenses and businesses off, instead of a straight sale.

WWE is owed $45 million according to documents and have already stated they "anticipate" the company will be actively participating in the proceedings.

The situation could very well lead to the eventual dismantling of THQ as a company, although that process would take time.

Another hearing on the matter is set for this Monday.

To read the complete article, click here.