Posts Tagged Settlement
Disney has emerged victorious in their trademark infringement suit against Phase 4 Films. The studio successfully thwarted Phase 4 Films’ alleged attempt to take advantage of the success of ‘Frozen’. Only one month after the lawsuit commenced, Phase 4 has thrown in the towel, settling the case with a stipulated judgment that includes a $100,000 payout and requires the movie to go back to its original name, ‘The Legend of Sarila’.
Apparently good things do come to those who wait! The NBA reportedly reached a $500 million deal over a dispute stemming from the 1970s merger with the American Basketball Association (ABA). The history of the deal goes back to 1976 when the ABA was failing financially, the two associations attempted to merge but there was only room for four teams. The NBA offered the doomed franchises close to $3 million each to shut their doors forever. The owners of the St. Louis team at the time, Daniel and Ozzie Silna, held out and eventually received “visual media” rights.
Allegedly, both the NBA and the Silna’s regret shaking on the deal, for different reasons of course. The Silnas believed they were entitled to revenue from international broadcast, the NBA’s cable network, digital streaming and other sources of revenue that did not exist in 1976. The parties reported earlier in the week they reached a conditional settlement in which the Silna’s will received $500 million up front as well as continued television revenue with the possibility they can be bought out at a later time. Most notably, the $500 million settlement is in addition to the estimated $300 million the Silnas have already received throughout the years.
Do you think the NBA and the Silnas came to a fair deal, here?
Universal Studios and StudioCanal have settled a lawsuit over a series of films made under the Working Title banner. In February 2013, StudioCanal sued Universal alleging they were cheated in a partnership involving 44 films including: ‘About a Boy, ‘Billy Elliot’, ‘Love Actually’ and ‘O Brother Where Art Thou?’. After an audit of six of the films that allegedly exposed millions of dollars in underreported revenue, StudioCanal filed a lawsuit claiming that “tens of millions of dollars and likely more” was withheld and hidden. The plaintiff also claimed, among other allegations, that Universal wrongly accounted for and failed to report ancillary revenue from other sources, most notably music publishing. After almost a year of back and forth, the two parties moved to dismiss the lawsuit with prejudice last Friday. The terms of the settlement are and will remain confidential.
Weird Al Yankovic settled a year old $5 million lawsuit against Sony Music. Yankovic claimed he had been cheated on digital income and he had not seen money from the Napster settlement, among other complaints. With regards to digital income, Yankovic alleged Sony improperly treated digital downloads as sales rather than licenses thus he only received 15% of the income instead of 50%. The parties filed in New York federal court this week to dismiss the case with prejudice however no details about the settlement agreement have been released.