Friday, January 16, 2009

Deal for Watchmen!!

Variety Reports the great news:

Warner Bros. and Fox have settled their very public battle over "Watchmen." A deal has been hammered out that that gives WB some face-saving points, but which gives Fox the equivalent of a movie star�s gross participation.

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.

Hurray!!! It will still come out on March 6. Only a few more weeks to wait.

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