WWE ATTACKS JAKKS PRESS RELEASE
By: Press Release
11/16/2004 5:07:38 PM
Press Release Source: World Wrestling Entertainment, Inc.
World Wrestling Entertainment, Inc. Issues Comment on JAKKS Pacific
Press Release Tuesday November 16, 3:54 pm ET
STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 16, 2004--World Wrestling
Entertainment, Inc. (NYSE:WWE®) issued the following statement in
response to a press release issued by JAKKS (NASDAQ:JAKK - News)
this morning regarding their licensing of WWE TV Games: The press
release issued by JAKKS today relates to an amendment to the
videogame license between WWE and JAKKS/THQ LLC. The amendment was
signed in July of 2004 at a time when WWE was still gathering facts
related to the matters set forth in our recent lawsuit and contains
an express provision in it that WWE was not waiving any rights
regarding the payments made by JAKKS to WWE's former licensing
agent.
We do not know why JAKKS chose to issue a press release on the
subject today, and can state that JAKKS did not seek current
authority from Ms. Goldsmith to include a quote from her in the
release. In July, when the amendment was originally signed, Ms.
Goldsmith did approve the quote, but it no longer remains the view
of Ms. Goldsmith or the management of WWE.
World Wrestling Entertainment, Inc. (NYSE: WWE - News) is an
integrated media and entertainment company headquartered in
Stamford, Conn., with offices in New York City, Los Angeles,
Toronto and London. Additional information on the company can be
found at wwe.com and corporate.wwe.com.
Trademarks: The names of all World Wrestling Entertainment
televised and live programming, talent names, images, likenesses,
slogans and wrestling moves and all World Wrestling Entertainment
logos are trademarks which are the exclusive property of World
Wrestling Entertainment, Inc.
Forward-Looking Statements: This news release contains
forward-looking statements pursuant to the safe harbor provisions
of the Securities Litigation Reform Act of 1995, which are subject
to various risks and uncertainties. These risks and uncertainties
include general market conditions, which could result in only a
portion or none of the shares being registered to be offered and
sold, the conditions of the markets for live events, broadcast
television, cable television, pay-per-view, Internet,
entertainment, professional sports, and licensed merchandise;
acceptance of the Company's brands, media and merchandise within
those markets; uncertainties relating to litigation; risks
associated with producing live events both domestically and
internationally; uncertainties associated with international
markets; risks relating to maintaining and renewing key agreements,
including television distribution agreements; and other risks and
factors set forth from time to time in Company filings with the
Securities and Exchange Commission. Actual results could differ
materially from those currently expected or anticipated.