WWE sent out the following statement on Friday regarding this week’s bankruptcy filing by their video game publisher THQ.
WWE Responds To THQ Filing
STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE:WWE) is listed in THQ, Inc.’s recent bankruptcy filing as an unsecured creditor holding a claim of approximately $45 million reflecting the entirety of the existing multi-year agreement.
Any impairment of a current THQ account receivable would be immaterial to WWE’s financial statements. Even if the impact of THQ’s bankruptcy were detrimental to WWE, the Company does not believe that the ultimate economic impact for financial statement purposes would materially and adversely affect the results of operations or financial position of WWE in light of the strength of the WWE brand and the historical performance of WWE’s video game business.
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