‘Watchmen’ settlement

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.