Just read this in my Google Reader thanks to The Beat.
WATCHMEN suit settled
White flag! Warring studios Fox and Warners have released a statement:
“Warner Bros. and Twentieth Century Fox have resolved their dispute regarding the rights to the upcoming motion picture Watchmen in a confidential settlement. Warner Bros acknowledges that Fox acted in good faith in bringing its claims, which were asserted prior to the start of principal photography. Fox acknowledges that Warner Bros. acted in good faith in defending against those claims Warner Bros. and Fox, like all Watchmen fans, look forward with great anticipation to this film’s March 6 release in theatres.”
Nikki Finke has juicy details:
The deal is finally done, and Warner Bros’ Watchmen won’t be held hostage. I’m hearing that in the settlement, Fox will not be an active distributor of the pic but will receive up to 8 1/2% gross participation in the pic and a piece of everything going forward including a sequel or spinoff, and a cash payment upfront including recoupment of its development costs and attorney fees, and god-only-knows what else. Because neither Fox nor Warner Bros would comment on the terms of the deal.
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