The details on the Watchmen case settlement between Fox and Warner Bros. have been released over the past couple days and a correction to a previous statement has been made.
I got this from Slashfilm.com (where much of my film world news comes from) and they got it from The Hollywood Reporter. Here is the breakdown for those that would like to know (quoted from Slashfilm.com):
"According to Variety’s sources, Fox will receive an upfront payment totaling between $5 and $10 million, which will cover $1.4 million that the studio invested in development fees, plus millions of dollars in legal fees.
As already mentioned, Fox will not be distributing the film, but under the terms of the settlement, will get gross participation of between 5% and 8.5% depending on the film’s worldwide revenues.
The Hollywood Reporter, our source for the original settlement story, incorrectly reported that Fox would not be entitled to any rights for Watchmen spinoffs and sequels (they have since corrected the error). Fox will, in fact, participate as a gross player in any future Watchmen-related properties, although Snyder has already denied that he will participate in a prequel/sequel.
Allegedly, other options for the settlement were discussed recently, according to Variety’s sources. These included moving WB’s Terminator Salvation release date from May 22nd, to avoid competing with Fox’s Night at the Museum 2: Battle of the Smithsonian. The studios have denied that these scenarios were ever evaluated."
I'm glad the March 6 release date is still on schedule. I can't imagine the uproar or the amount of advertising money that would have been lost had the date been changed.
On a side note, I don't think I would be very pleased if any studio decided to make a Watchmen sequel/prequel. Would anyone really want that?
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