UPDATED: 'Watchmen' Lawsuit settled, Movie will be released 3/6/2009 as planned!
It's over! Warner Bros. and FOX have reached a settlement! They went out and solved it themselves, good for them. We were all hoping that everything would work out and that the film would not be delayed. We can now sit back, relax and enjoy all the additional 'Watchmen' hype that is going to be thrown at us, and know that we will get to see it on March 6th 2009. Warner Bros. and FOX have set up a hearing on Friday to present the settlement and have the case dismissed. Details of the settlement have not been released yet, but Warner Bros will be giving FOX tens of millions of dollars, plus they get a percentage of the film's box office take. FOX is going to get all this money for doing absolutely nothing, except being a bunch of assholes. The wont even be distributing the film and will not own any piece of the WATCHMEN property moving forward. What can I say... FOX won.
We will update you an any new information as it becomes available.
UPDATE WITH DETAILS
----------------------------------------------------
Warner Bros. gets the right to open its superhero pic on March 6 as planned, and Fox's logo will not be on the film, sources said.
Fox, on the other hand, will emerge with an upfront cash payment that sources pegged 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.
More importantly, Fox will get a gross participation in "Watchmen" that scales between 5% and 8.5%, depending on the film’s worldwide revenues. Fox also participates as a gross player in any sequels and spinoffs, sources said.
A joint statement said, "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 Brothers 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."
Attorneys for the studios are scheduled to meet Friday morning with U.S. District Court Judge Gary Feess in Los Angeles to finalize the settlement.