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JAKKS, THQ enter arbitration for videogame license
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MALIBU, Calif. - Toy maker JAKKS Pacific Inc. said Wednesday said it had entered arbitration with THQ about the renewal of a videogame license from World Wrestling Entertainment Inc.
JAKKS said it had notified WWE that it wanted to renew the license for an additional five years ending in December 2014 on behalf of a joint venture between JAKKS and THQ. But THQ said JAKKS did not have the right to do that without its consent. It sued JAKKS in California Supreme Court in Los Angeles. The two have initiated arbitration proceedings, JAKKS said in a statement.
JAKKS shares rose 29 cents to $13.12 Wednesday morning.
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