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THQ, DreamWorks reach video-game deal

Wed, 12/02/2009 - 9:00am
The Associated Press

THQ Inc. and DreamWorks Animation SKG Inc. said Wednesday they have reached a deal that gives THQ exclusive rights to create video games based on two upcoming DreamWorks films, "Kung Fu Panda: The Kaboom of Doom" and "Puss In Boots," as well as the animated television show "The Penguins of Madagascar."

The agreement covers all console and handheld systems.

Doug Clemmer, a THQ executive vice president, said the deal reinforces the company's commitment to "reinvigorating our portfolio of licensed games for kids and families."

DreamWorks shares climbed $3, or 8.7 percent, to $37.60 in afternoon trading after the company received a Janney Montgomery Scott upgrade. The stock has ranged from $17.32 to $38.05 over the past year.

THQ shares lost 11 cents to $4.87.

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