Here comes " The Hobbit " Lord Of The Rings Lawsuit Settled
The Tolkien Trust, New Line and HarperCollins have settled a suit by the trust over the gross profit participation of JRR Tolkien's heirs from “The Lord of the Rings" trilogy.
Terms of the settlement, announced Tuesday, were confidential.
The case had been set to go to trial on Oct. 19 in Los Angeles Superior Court. The trust said Tuesday that the settlement will allow New Line's two films based on Tolkien's "The Hobbit" to go forward.
Shooting is expected to start on the pics next year with Guillermo Del Toro directing.
The Tolkien Trust and HarperCollins filed the suit in February 2008, alleging New Line had failed to pay at least $220 million to members of the trust. The plaintiffs had asserted that under a 1969 contract, the trust and other plaintiffs are entitled to 7.5% of gross receipts from the films and related products, minus certain costs.
The plaintiff has also sought a declaration from the court that the plaintiffs could terminate any further rights New Line had to the Tolkien works under the agreements -- including "The Hobbit," which is being produced by Peter Jackson, director of the "Rings" trilogy, and Fran Walsh for New Line and MGM. The films are expected to be released in late 2011 and 2012.
"We are pleased to put this litigation behind us," said Alan Horn, president of New Line parent Warner Bros. "We all look foward to a mutually productive and beneficial relationship in the future."
Warner Bros. has domestic rights to “The Hobbit” films and MGM has international rights.
Bonnie E. Eskenazi, an attorney for the Tolkien trust, told Daily Variety that settlement talks had been ongoing in recent months as the trial date approached. She also said the plaintiffs are “vindicated and completely satisfied” with the settlement.
“This will enhance the trust’s ability to support more than 100 charities throughout the world,” she added. Those include Save the Children Fund, the Darfur Appeal, Asia Earthquake Appeal and the World Cancer Research Foundation.
Please Leave A Comment-
Source-Variety
Comments