New Line has reached a settlement with the Tolkien Trust and HarperCollins.
According to Variety, New Line has reached a settlement with the Tolkien Trust and HarperCollins. This allows the planned Hobbit film to go ahead without legal worries.
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 were entitled to 7.5% of gross receipts from the three films — which grossed a combined $3 billion worldwide — and related products, minus certain costs.
"We are pleased to put this litigation behind us," said Alan Horn, prexy of New Line parent Warner Bros. "We all look foward to a mutually productive and beneficial relationship in the future."
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Posted originally: 2009-09-09 16:47:59