THQ Inc. (NASDAQ: 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, THQ’s 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. THQ’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.” About Ultimate Fighting Championship® Owned and operated by Zuffa, LLC, and headquartered in Las Vegas, Nev., UFC® is the world’s 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®, UFC’s 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.
Shares of THQ (Nasdaq:THQI) were gapping down Wednesday morning with an open price 10.3% lower than Tuesday's closing price. The stock closed at 68 cents yesterday and opened today's trading at 61 cents.
Shares of THQ (Nasdaq:THQI) were gapping down Friday morning with an open price 22.4% lower than Thursday's closing price. The stock closed at 76 cents yesterday and opened today's trading at 59 cents.