THQ Comes Out On Top of Jakks Pacific Arbitration

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THQ is announcing this morning that they have prevailed in its binding arbitration with Jakks Pacific. The arbitrator has established a lower preferred return payment rate to Jakks Pacific for WWE video games. The new rate was not revealed, but THQ does say that it is 40% below the previous rate. The new rate will go back from July 1st, 2006 and will continue until December 31st, 2009.

Due to the new rate, the company expects of a savings of  approximately $23 million. This will hit their reports during the second quarter of 2010 which ends Septemeber 30th, 2009. This savings will reduce its accrued venture partner expense on their balance sheet.

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