WWE extends deadline for THQ license agreement renewal

THQ has been granted an extension by World Wrestling Entertainment for the deadline to renew the joint licensing agreement held with JAKKS Pacific. The new deadline is Dec. 31, 2009. If the agreement is renewed and extended it would be good until Dec. 31, 2014. Obviously THQ needs to continue to hold this license to make any more of its SmackDown vs. RAW video games.

THQ said in a brief statement today that the “WWE’s action provides the company with increased flexibility with respect to the renewal of the videogame license.”

No doubt the biggest hurdle for THQ is its tumultuous relationship with JAKKS Pacific, who it has taken legal action against in regards to its share of revenues from products based on the license. We watch and we wait.