In the first case, a three-party settlement among all involved will see THQ paying WWE $13.2 million, and Jakks another $20 million in four installments over the next four years. THQ and Jakks had been partners in the WWE venture, and this settlement effectively buys out Jakks, as the two sides have announced that their partnership ends Dec. 31.

THQ and Jakks had been in litigation since July, after Jakks had notified WWE it would renew the two sides' license, but THQ then sued, saying Jakks wasn't authorized to make such a decision. The payments to both WWE and Jakks resolve those entanglements.

Secondly the license renewal between THQ and WWE begins on Jan 1. and lasts eight years, which is three years beyond the original renewal term. Terms of that were not disclosed.

Got all that? What's it mean? One, THQ will continue to make WWE games, such as its Smackdown vs. Raw series. And, two, it puts that license out of reach for the next eight years. The lack of resolution on this issue had led some to speculate that EA Sports, which has teased a new game announcement come January, might be moving in on 'rasslin. We now know that not to be the case, so EA Sports' new game will have to be something else.

In a binding arbitration between the two companies announced today, an arbitrator has ruled that Jakks is only entitled to six percent of sales from THQ WWE games, down from ten percent. The new, lower rate, is retroactive to July 1, 2006 and runs through the end of this year.

As a result, THQ says they expect to bring in an extra $23 million during the fiscal 2010 quarter ending this September.

The arbitration kicked off after the two companies came to an impasse while negotiating a new preferred rate return. It's just the latest in a series of legal battles between the two.

Back in June Jakks Pacific notified WWE of their intentions to renew their license to create games based on the wrestling franchise. But THQ said that the company couldn't cut the deal without talking to them first.

Jakks Pacific has gone ahead and notified World Wrestling Entertainment of their intentions to renew to license to create video games based on the highly popular wrestling franchise for another five years, extending the current agreement until December 31st, 2014. Seems like a good idea, right?

Well not according to THQ, Jakks' partner in the Joint Venture that holds said license. According to a statement issued by Jakks Pacific today, THQ has filed a lawsuit in California Superior Court, asking that the court declare that Jakks was not authorized to make such a decision and THQ is not obligated to consent to such a decision.

Even more telling, THQ is also asking that the court declare a restrictive covenant in the Joint Venture agreement that restricts THQ from publishing a wrestling title for a period of one year following the termination of said venture be deemed unenforceable in California.

So basically THQ is looking to cover their assets, making sure that if they terminate the Jakks agreement that they'll still be able to publish wrestling titles. Jakks and THQ have also initiated arbitration proceedings relating to the issues, so the court case might come to nothing. Either way, it should be an interesting match.