Lord Of The Rings Sued By Top Producer
The studio behind the LORD OF THE RINGS movie trilogy is being sued for $20 million (GBP11.1 million) by movie and music mogul SAUL ZAENTZ in regard to alleged unpaid royalties.
Zaentz's claim against NEW LINE CINEMA states he is owed a percentage of adjusted gross receipts after he bought the rights to the works of the story's author JRR TOLKIEN in the 1970s - licensing it to the movie company in return for a share of the profits.
The three 'Rings' films have grossed a combination of $2.9 billion (GBP1.61 billion) worldwide.
THE ENGLISH PATIENT producer's claim based on a partial audit of the first film, 2001's The Lord Of The Rings: THE FELLOWSHIP OF THE RING stated he was owed a percentage of adjusted gross receipts.
New Line's calculations have been based on the a net figure instead - the difference being $198 million (GBP110 million) with ten per cent owed to him.19/08/2004 16:54