schmiggens
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Registered: Apr 2003
Local time: 07:20 PM
Location: In The Zone
Posts: 18704
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LORD OF THE RINGS SUED BY TOP PRODUCER
The studio behind the "Lord of the Rings" movie trilogy is being sued for $20 million by movie and music mogul Saul Zaentz in regard to alleged unpaid royalties.
Zaentz's claim against New Line Cinema states he is owed a percentage of adjusted gross receipts after he bought the rights to the works of the story's author JRR Tolkien in the 1970s -- licensing it to the movie company in return for a share of the profits.
The three "Rings" films have grossed a combination of $2.9 billion worldwide.
"The English Patient" producer's claim is based on a partial audit of the first film, 2001's "The Lord of the Rings: The Fellowship of the Rings," that stated he was owed a percentage of adjusted gross receipts.
New Line's calculations have been based on the a net figure instead -- the difference being $198 million with 10 percent owed to him.
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08-20-2004 03:40 AM
