SURPRISE! Despite Marvel and Marvel Studios’ good relationship with Paramount after 3 blockbuster films with 2 more on the way, Marvel has given distribution rights of Iron Man 3 and the Avengers to their brand new sugar mama, Disney!
According to reports from Deadline, it appears that Mickey Mouse had other plans for the previous 6 picture deal, resulting in a buy out of $115 million, otherwise known as what the assumed profit would be. The amount will be paid first when the Avengers comes out and again when Iron Man 3 comes out. However, the good news for Paramount is that they’ll still be getting 9% of Iron Man’s revenue and 8% of the Avengers, so it really works out quite well considering how much Iron Man 2 made ($622 million worldwide) and how much Joss Whedon’s Avengers will assumedly make given the pedigree in that film.
We however have no information about the supposed SHIELD and Nick Fury movies, as well as the rumored Black Widow spin-off, considering Sam Jackson has signed on for 9 movies as Nick Fury (2 of which are done), but it’s safe to assume that these are still in early early pre-production, so they probably don’t have distributors.
Check behind the cut for the full press release, and be sure to go to Deadline for the full updated breakdown of the deal.
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.
