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WWE Not Happy With Press Releases From Jakks Pacific

Jakks Pacific: Outsiders - 2004.11.16
World Wrestling Entertainment, Inc. Issues Comment on JAKKS Pacific Press Release

STAMFORD, Conn., November 16, 2004 – World Wrestling Entertainment, Inc. (NYSE:WWE®) issued the following statement in response to a press release issued by JAKKS (NASDAQ: JAKK) 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) 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.

Thanx to reader, Joe for pointing out this press release to us!


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