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'WATCHMEN' CASE SETTLED - MARCH 6 OPENING
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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.
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.
FOUR FILMS VIE FOR TOP BOX OFFICE
Is January the new "it" month at the box office?
Historically, January is one of the quietest months of the year in terms of new releases, with Christmas holdovers and specialty films taking up most of the oxygen.
But not this year. Today, four wide releases open as the Martin Luther King Jr. holiday weekend gets under way: Sony comedy "Paul Blart: Mall Cop," Lionsgate's "My Bloody Valentine 3-D," Fox Searchlight's biopic "Notorious" and Paramount's kid comedy "Hotel for Dogs."
Also, Paramount Vantage's "Defiance" and Overture's "Last Chance Harvey" expand nationwide after limited runs. "Defiance" opens in 1,500 runs, "Harvey' in 1,054.
Warner Bros.' "Gran Torino" could hold well enough to win the four-day holiday weekend. Pic, directed by and starring Clint Eastwood, grossed $29.5 million last weekend as it expanded nationwide after a limited run.
"Gran Torino" was one of three new titles opening on Jan. 9 that did far better than expected. Twentieth Century Fox's "Bride Wars" debuted to $21.1 million, while Universal/Rogue Pictures' "The Unborn" cleared $19.8 million. Weekend was up 15% over the same frame a year ago.
Tracking gives Sony's "Paul Blart: Mall Cop" a slight edge heading into the four-day holiday weekend. Laffer, starring Kevin James and directed by Steve Carr ("Daddy Day Care," "Dr. Dolittle 2"), opens in 3,144 runs. Film is rated PG, so it can rely on getting families.
But "Valentine" could draw plenty of box office blood thanks to higher ticket prices for 3-D fare. Film is the widest 3-D release to date. It opens in 1,033 3-D runs and 1,501 conventional theaters for a total theater count of 2,534.
WATCH FILMS
CLASSIC FILMS
BY GENRE
Doubt
Gran Torino
The Wrestler
The Reader
The Curious Case of Benjamin Button
Valkyrie
Bedtime Stories
Marley and Me
Milk
Slumdog Millionaire
Frost/Nixon
The Day the Earth Stood Still
