"There's a lot of "dance with the lawyers" on that one. The rights holders for Tatsunoko in Japan are one company, but in North America it's 13 companies, some of which are very attentive, but some are not".
13, that's a lot of companies. Can they pull it off? Yes, no, maybe so.
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Wii's World is not officially affiliated with Nintendo! (but they wish we were).