Have I ever told you how much I hate Hollywood lawsuits? Well, I do, they are absolutely awful. Especially the big ones that get in the way of a movie that we all want to see! Remember all that Watchmen crap!? Now another big movie is being threatened to be shut down. The Hobbit.
So hears what going down, J.R.R. Tolkien's heirs are suing the studios New Line Cinema, MGM, and the filmmakers for $220 million dollars in unpaid profits from the Lord of the Rings film trilogy. On top of that they are trying to terminate further film rights to Tolkien's books due to a breach of contract. Good grief.
The Lawyer working for Tolkien's son Christopher says:
"Should the case go all the way to trial, we are confident that New Line will lose its rights to 'The Hobbit,'"
Well that just plain sucks ass, doesn't it. I would hate not to see any more of these films brought to life on the big screen! Here is what the fate of the movies rest on.
JRR Tolkien sold the film rights to the trilogy in 1969 for an upfront fee of £250,000 and a reported 7.5% of future profits. Released between 2001 and 2003, the Lord of the Rings trilogy went on to earn upwards of $6bn in theatrical and DVD sales. However, the Tolkien estate claims it has yet to receive any payment from New Line or its parent company, Time Warner. For their part, lawyers acting for New Line argue that terms of the original contract are "ambiguous".
I don't know if you remember or not, but Peter Jackson sued New Line for a share of the profit, and they settled with an undisclosed amount, and put bad blood between the two, it's all better now though. The Hobbit is gearing up for a 2011 release date.
I just wish everyone would get this shit out of the way, and taken care of it before they start filming, so they can avoid the stupid lawsuits. The studios' lawyers need to be more on top of things when it comes to big ass properties.