Harvey Weinstein - Weinstein Brothers Ordered To Enter Arbitration Talks Over The Hobbit Suit

Movie moguls Bob and Harvey Weinstein have been ordered to meet with an arbitrator in their $75 million (£46.9 million) legal battle over profits from The Hobbit film franchise in a bid to settle the case out of court.

The Weinstein brothers filed suit against executives at New Line Cinema Corporation, part of the Time Warner brand, in December (13), claiming they were owed money from the success of the fantasy series as a result of a rights agreement they signed in 1998.

The deal stipulated that New Line bosses would pay the producing duo five per cent of gross receipts for the rights to the "first motion picture" from the J.R.R. Tolkien novel, directed by Peter Jackson, as the brothers had already made a $10 million (£62.5 million) investment in the film adaptation.

However, the Weinsteins claim the defendants then decided to turn The Hobbit into a trilogy and are now refusing to pay them their cut of profits from the second and third instalments of the franchise.

They wanted the case to be heard in open court and refused to enter into talks with an arbitrator, but last week (ends14Feb14), New York Judge Eileen Bransten has shut down their request in favour of having the two parties enter dispute resolution talks first, according to The Hollywood Reporter.

The first instalment, The Hobbit: An Unexpected Journey, hit cinemas in 2013 and grossed over $1 billion worldwide, and the follow-up, The Desolation of Smaug, has banked over $860 million (£537.5 million) since its release in December (13).

The third movie, There and Back Again, is scheduled to hit theatres at the end of this year (14).


Contactmusic

Tags: Harvey Weinstein - The Hobbit


Advertisement

Editors Recommendations

The Fifty Shades of Grey Movie Trailer Is Here: Was It Worth The Wait?

The moment Fifty Shades of Grey fans have been waiting for is finally...

The Fifty Shades of Grey Movie Trailer Is Here: Was It Worth The Wait?

Alec Baldwin (Mostly) Off The Hook On Disorderly Conduct Charges

Alec Baldwin was in court on Tuesday, facing charges of disorderly...

Alec Baldwin (Mostly) Off The Hook On Disorderly Conduct Charges

Pitbull feat. John Ryan - Fireball

Pitbull drops his eighth studio album 'Globalization' later this year and...

Pitbull - Fireball Video

The British Film Institute: 'There Are Too Many Films'

The BFI have condemned the amount of films released in British cinemas...

The British Film Institute: 'There Are Too Many Films'

What The Critics Are Saying About Scarlett Johansson's 'Lucy'

Early reviews of Scarlett Johansson’s new movie Lucy are piling up...

What The Critics Are Saying About Scarlett Johansson's 'Lucy'

Dwayne Johnson Battles His Way Through Non-Stop Absurdity In "Hercules"

It’s Hercules time! So we know that Dwayne Johnson made a lot...

Dwayne Johnson Battles His Way Through Non-Stop Absurdity In
Advertisement

Arty Ft. Angel Taylor - Up All Night [Lyric] Video

Russian musician Arty has collaborated with Angel Taylor on his latest single 'Up All Night', released on...

Arty - Up All Night (Lyric Video) Video

Those Colin Farrell for 'Iron Man 4' Rumors Refuse To Die

Rumors are abound that seminal Iron Man actor, Robert Downey Jr, will not be...

Those Colin Farrell for 'Iron Man 4' Rumors Refuse To Die

Marvel Announces Release Date for Unknown Movie - What Could It Be?

Last week Marvel studios took the unusual step of announcing five upcoming...

Marvel Announces Release Date for Unknown Movie - What Could It Be?


More recommendations

Advertisement

Comments

Harvey Weinstein Newsletter

Subscribe to this news alert service to receive news and reviews on Harvey Weinstein

Unsubscribe | Unsubscribe All