THQ AND ZUFFA ANNOUNCE TRANSFER OF ULTIMATE FIGHTING CHAMPIONSHIP
VIDEOGAME LICENSE AGREEMENT
AGOURA HILLS, Calif. & LAS VEGAS, Nev., June 4, 2012 â€“ THQ Inc. (NASDAQ: THQI) and Zuffa, LLC, today announced that they have reached an agreement to transfer THQâ€™s exclusive, worldwide license with Zuffa to publish videogames based on the Ultimate Fighting ChampionshipÂ® (UFCÂ®) brand to Electronic Arts Inc. (NASDAQ: EA), effective today, in exchange for an undisclosed cash payment to THQ.
â€œOver the last three years, THQ has delivered best-in-class, all-encompassing experiences to MMA fans, sports enthusiasts and fighting gamers around the globe with its UFC Undisputedâ„¢ series. We want to thank them for their stewardship of our brand," said Lorenzo Fertitta, Chairman and CEO of Zuffa. â€œWe look forward to joining forces with EA to leverage their sports platform, and expand our brand in the video game space.â€
Brian Farrell, THQâ€™s Chairman and CEO, commented, â€œWe have relished our relationship with UFC over the last several years and believe that the UFC gaming brand is in great shape. THQâ€™s more focused strategy moving forward meant that transferring the license to EA made sense to all parties. We would like to thank UFC for their great support and partnership and wish EA all the best moving forward.â€
Looks like THQ are still struggling, I don't know if EA will do a better job than THQ since THQ had the best MMA games and EA MMA failed in comparison to Undisputed, what do you guys think about this?