Weinsteins sue Warner Bros. for millions over 'Hobbit' films


Harvey and Bob Weinstein are taking Warner Brothers and Time Warner to court over the highly anticipated sequel to the "The Hobbit."

The Weinstein brothers sold the rights to J.R.R. Tolkien's book "The Hobbit"  as well as the "Lord of the Rings" trilogy back in 1998, (Via New Line Cinema / "Lord of the Rings") which worked out very well for all parties involved. To date "The Lord of the Rings Trilogy" has brought in almost $3 billion, and "The Hobbit" another $1 billion, according to Box Office Mojo.

And for the Weinsteins, that meant a fat check with plenty of zeroes. 

The brothers kept a stake in the films sold to Warner Bros and, according to Entertainment Weekly, made more than $100 million off the three blockbuster hits. (Via CNN)

But their problem now is all the potential money they will be missing out on with the "The Hobbit" movies.

"They say New Line is trying to deny them their financial share of two upcoming films. The brothers sold the movie rights to New Line back in 1998 but reportedly were only entitled to a cut of the first motion picture but not remakes." (Via WTVJ)

The Wall Street Journal says it's a matter of wording, writing the Weinsteins "are owed gross participation on the 'first motion picture' based on each book, but not on 'remakes.' The contract, filed in court, doesn't specifically address situations in which one book is split into multiple films."

According to Bloomberg, a statement by Warner Brothers places the blame squarely on the Weinsteins saying, "This is one of the great blunders in movie history."

But the lawyers for the Weinstein brothers argue the studio is being flat-out greedy. (Via CBS)

This case is just one of many courtroom battles the brothers have had with major motion picture companies, and this is the second high-profile case with Warner Brothers this year. 

This summer Warner Brothers exercised it's right to movie title "The Butler" forcing the Weinstein Company to rename the movie, "Lee Daniels' The Butler" and pay a fine. 

The Weinstein brothers will find out just how much money they're fighting for when "The Hobbit 2: The Desolation of Smaug" hits theaters Friday.

- See more at newsy.com.  http://www.newsy.com/videos/weinsteins-sue-warner-bros-for-millions-over-hobbit-films/#sthash.Q2Y110WR.dpuf

 



Reader Comments ...


Next Up in Springfield Entertainment

Disney building the world's first Marvel hotel
Disney building the world's first Marvel hotel

It’s a hotel that Disney is hoping guests will marvel at. >> Read more trending news Disney’s Hotel New York, a 565-room property near Disneyland Paris’ Disneytown. will be renovated to feature the props, drawings and costumes from Marvel films, television shows and comic books, Travel & Leisure reported. The Art of Marvel will...
Ryan Seacrest to return as host of 'American Idol' revival
Ryan Seacrest to return as host of 'American Idol' revival

It’s official: Ryan Seacrest will return to “American Idol” to serve as host for ABC’s reboot of the singing competition. Kelly Ripa made the announcement on Thursday morning’s episode of “Live with Kelly and Ryan.” “We’ve been talking about it for a little while but I am happy to confirm &hellip...
The new summer beer hitting taps this week that you’ll want to try
The new summer beer hitting taps this week that you’ll want to try

Just in time for the dog days of summer comes Yellow Springs Brewery’s latest release — Boat Show IPA.  The beer, with its tropical fruit and citrus hop notes designed to mix nicely with Crystal malts, is meant for lounging by the water on a hot day. Boat Show, at 7 percent ABV, comes after repeated experiments under the...
Madonna stops auction of love letter from Tupac, underwear, hairbrush
Madonna stops auction of love letter from Tupac, underwear, hairbrush

A New York judge has ordered a company planning to auction articles belonging to pop star Madonna, including a love letter from rapper Tupac Shakur, a hairbrush, used underwear, and unreleased cassette recordings, to pull 22 items from the auction scheduled for Wednesday, July 19. The Material Girl claimed the items had been stolen from her by a ...
Couple collides practicing 'Dirty Dancing' lift before wedding
Couple collides practicing 'Dirty Dancing' lift before wedding

A couple practicing the famed lift from the 1980s classic “Dirty Dancing” found themselves in the hospital after they failed to execute the move and instead knocked each other out, according to multiple reports. The pair, identified by BBC News as Sharon Price and her fiance Andy Price, were practicing a recreation of the final dance scene...
More Stories