THQ and Zuffa Announce Transition of Ultimate Fighting Championship Videogame Rights
AGOURA HILLS, Calif. & LAS VEGAS--(BUSINESS WIRE)-- THQ Inc. (THQI) and Zuffa, LLC, today announced that they have reached an agreement resulting in Zuffa licensing to Electronic Arts Inc. (NASDAQ: EA) the right to publish videogames based on the Ultimate Fighting Championship® (UFC®) brand, effective today. The agreement results in an undisclosed cash payment to THQ. Additionally, THQ will continue to publish its existing console and mobile titles through March 31, 2013.
Over 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 Undisputed" series. We want to thank them for their stewardship of our brand," said Dana White, President, UFC. We look forward to joining forces with EA to leverage their sports platform, and expand our brand in the video game space.
Brian Farrell, THQs Chairman and CEO, commented, We have relished our relationship with UFC over the last several years and believe that the UFC gaming brand is in great shape. THQs 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.
About Ultimate Fighting Championship®
Owned and operated by Zuffa, LLC, and headquartered in Las Vegas, Nev., UFC® is the worlds premier MMA organization and produces over 12 UFC live Pay-Per-View events annually around the globe. In 2012, FOX will broadcast four fights annually. In spring 2012, The Ultimate Fighter®, UFCs signature weekly reality TV show, debuts on FX. UFC content is also distributed commercially to bars and restaurants through Joe Hand Promotions in the U.S. Globally, UFC programming is broadcast in over 149 countries and territories, reaching a half a billion homes worldwide, in 20 different languages.
UFC® also boasts a powerful presence online, with UFC.com attracting over seven million unique visitors per month, while also possessing one of the most powerful social media followings in all of professional sports. To date, UFC has over six million fans on Facebook and over 400,000 followers on Twitter. In addition, UFC President Dana White is one of the most accessible and most followed executives in sports with more than 1.7 million followers on Twitter. On January 22, 2011, UFC continued to set trends in social media, becoming the first major sports league to stream live, broadcast quality action on Facebook.
Ancillary businesses include best-selling DVDs, a magazine, the best-selling UFC Undisputed videogame franchise distributed by THQ, UFC GYM®, UFC Fight Club affinity program, UFC Fan Expo® festivals, branded apparel, trading cards, and articulated action figures.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers, wireless devices and the Internet. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at http://www.thq.com/. THQ and its logo are trademarks and/or registered trademarks of THQ Inc.
THQ Inc. Caution Concerning Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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"), including, but not limited to, expectations with respect to the transfer of the UFC license from THQ to Electronic Arts. These statements are based upon management's current 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, business, competitive, economic, legal, political, and technological factors affecting our industry, operations, markets, products, or pricing. 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, including its Annual Report on Form 10-K for the fiscal period ended March 31, 2011 and subsequent Quarterly Reports on Form 10-Q, and particularly the discussion of trends and risk factors set forth therein. 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 are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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Source: THQ Inc.Copyright Business Wire 2012