Art by JRR Tolkien; fair use.
Originally posted on JRR Tolkien Examiner on 9/10/09.
An official announcement has confirmed the story that TheOneRing.net broke last week, that the parties in a lawsuit that could have derailed production of the upcoming The Hobbit films have reached a settlement.
New Line Cinema, The Tolkien Trust and HarperCollins Publishers have reached an agreement concerning the distribution of profits from Peter Jackson’s film adaptation of JRR Tolkien’s Lord of the Rings trilogy.
The specific terms of the settlement were not disclosed.
Christopher Tolkien, the posthumous editor of his father’s work:
The trustees regret that legal action was necessary, but are glad that this dispute has been settled on satisfactory terms that will allow the Tolkien Trust properly to pursue its charitable objectives.
The lawsuit was filed in February 2008 by the Tolkien Trust, the British charity founded in 1977 that manages Tolkien’s estate. It alleged that New Line had failed to pay Tolkien’s heirs more than US$220 million. The Trust claimed that under a contract signed by Tolkien in 1969, his heirs and others were owed 7.5% of the films’ gross receipts and related profits.
To-date, the three Jackson films have generated $2.8 billion in gross revenue.Christopher Tolkien, HarperCollins, JRR Tolkien Examiner, lawsuits, New Line Cinema, The Hobbit (film), The Lord of the Rings (movie trilogy), TheOneRing.net, Tolkien Trust