Disney Acquires Complete Distrtibution Rights From Paramount For IRON MAN 3 and THE AVENGERS
Walt Disney Co. has agreed to pay Viacom Inc.’s Paramount Pictures at least $115 million for distribution rights to Iron Man 3 and The Avengers, gaining full control of movies owned by its Marvel Entertainment unit.
Disney has also announced that May 3, 2013 will be the release date for Iron Man 3.
PRESS RELEASE
BURBANK, Calif. – October 18, 2010 – The Walt Disney Studios, Paramount Pictures and Marvel Studios announced they have reached an agreement under which Paramount will transfer its worldwide marketing and distribution rights to Disney for Marvel Studios’ The Avengers and Iron Man 3. Paramount will remain the worldwide distributor of the upcoming films, Thor and Captain America, as well as the previously released Iron Man and Iron Man 2.
Under terms of the new deal, Disney will pay Paramount $115 million for the transfer of the distribution rights to Iron Man 3 and The Avengers to be paid on the theatrical release dates. These monies will serve as a minimum guarantee against the distribution fees.
“In completing this agreement, Disney will now assume worldwide marketing and distribution of The Avengers and Iron Man 3 and leverage these two highly-anticipated films across the multiple global platforms of The Walt Disney Company,” said Rich Ross, Chairman of The Walt Disney Studios. “We appreciate the tremendous momentum that Paramount established with these iconic Marvel characters and look forward to propelling the brand even further in the coming years.”
“Five years ago, when Paramount and Marvel made our initial deal, both our businesses were in very different places,” said Brad Grey, Chairman & CEO of Paramount Pictures. “We are grateful for the partnership we have had with the terrific Marvel team over these years and proud of the work we have done together. Today, this new agreement is the right deal for Paramount, for Marvel and for Disney. We look forward to working together on Thor and Captain America, and we wish Disney and Marvel the utmost success, in what we know will be a very productive and wide-ranging partnership.”
"Paramount has been a wonderful partner in helping Marvel Studios bring our characters to the big screen," said Alan Fine, Office of the President, Marvel Worldwide, Inc. "This agreement makes sense now that Marvel is part of The Walt Disney Company."
Paramount will release Marvel Entertainment’s Thor and Captain America worldwide beginning on May 6 and July 22 of 2011, respectively. The Avengers will be licensed to Epix under Paramount’s existing pay television arrangement.
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theguilty1
So is this basically the same deal as the original Paramount deal, just now under Disney? Are we talking creative control or strictly distribution?
Bryan Kritz
Managing Editor
Paramount never had creative control. This is distribution which is now completely under the Disney house
theguilty1
So is this basically the same deal as the original Paramount deal, just now under Disney? Are we talking creative control or strictly distribution?
Paramount never had creative control. This is distribution which is now completely under the Disney house
Ah, that's what I figured. Thanks!
Phinehas
Yeah! Who cares?? I mean the real trick is getting other properties from Sony, Lionsgate, and especially Fox! They DO have creative control and only consult with Marvel on certain things.
Samaritan
Judging the way Disney has handled Pixar in the past years, all I can say is I am extremely satisfied with this direction. I hate it when people accuse Disney of somehow planning to restrict the Marvel U by making it more kid-friendly. Disney WILL NOT interfere with Marvel in any way. They will collaborate with them and distribute Marvel films. They will let Marvel do what they do best. I am proud of what Paramount has done as well, and I do not see this affecting them whatsoever since they still have strong franchises on their belt such as Star Trek.