'Rings' lawsuit is settled

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By Adnan Tezer Sep 8, 2009, 23:24 GMT

New Line Cinema, the J.R.R. Tolkien estate and publisher Harper Collins have settled the lawsuit over profits from the "Lord of the Rings" films released between 2001 and 2003. According to The Hollywood Reporter, the Tolkien estate had sued New Line for at least $150 million in damages for failing to pay 7.5 percent of gross receipts from the three films, which netted an estimated $6 billion combined. At the time, the plaintiffs wanted a court order that would give them the right to terminate any rights New Line might have to other Tolkien works, including "The Hobbit." New Line and MGM have announced plans to turn that work into a film with "Rings" director Peter Jackson producing and Guillermo del Toro directing. In The Hollywood Reporter, Christopher Tolkien stated, "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 Trustees acknowledge that New Line may now proceed with its proposed films of 'The Hobbit.'"Terms of the settlement were not released.

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'Rings' lawsuit is settled

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