The final numbers are in on the deal that paved the way for release of the Watchmen movie and shut up the lawyers at 20th Century Fox and Warner Bros.
Under the deal, Fox will not be a co-distributor of the film. But, the studio will receive a heaping helping of greenbacks in one, well-raked pile and up to 8.5 percent of the box office (which should make bookkeeping entertaining at Warner Bros.).
More importantly, Fox enjoys a taste of everything Warners Bros. earns off sequels or spinoffs. The final cash payment amount has yet to be determined as Fox demands reimbursement of its development costs and attorney fees, according to Deadline Hollywood Daily.
Variety, quoting unnamed sources, put the lump-sum payout at "between $5 million and $10 million, covering reimbursement of $1.4 million the studio invested in development fees, and also millions of dollars in legal fees incurred during the case."
The two sides issued a feel-good joint 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 theaters."
Image courtesy Warner Bros.
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