New Line, the Tolkien Estate and Harper Settle LOTR Lawsuit
THR, Esq. reports that New Line Cinema, the Tolkien estate and Harper Collins Publishing have settled a lawsuit over profits from LORD OF THE RINGS, specifically the films released from 2001-03.
The Tolkien estate sued New Line for $150M+ in damages for failing to pay 7.5% of gross receipts. The trio of films earned $6B combined.
The plaintiffs requested a court order granting the authority to terminate any rights New Line might have to more Tolkien works, including THE HOBBIT.
Terms of the settlement have not been released. New Line and MGM have announced plans for THE HOBBIT, with Peter Jackson onboard as producer.