Zaentz & New Line Reach Deal for Rings Royalties
Created 08/29/2005 - 23:00
files/pictures/picture-35.jpgEarlier this month, Saul Zaentz and New Line reached a settlement on a $20 million lawsuit in regards to royalties on the LORD OF THE RINGS trilogy, reports VARIETY. Zaentzs company, who purchased the rights to the books in 1976, has made nearly $168 million from the film series without having actually served as a producer on the film. The additional money earned via the suit was not released by either party. The case was set to go to trial on July 19, but the two parties went into negotiations instead.
This ends the first of New Lines legal woes over the film series. In March, RINGS director Peter Jackson and producing partner Fran Walsh filed suit against New Line, claiming they were owed more money on revenues related to home video, merchandise and videogames.