‘Hobbit’ Heirs Seek $220 Million From Time Warner Over ‘Rings’

***Alcuin*** · 07-15-2009, 10:57 AM

from Bloomberg News. Follow the link to the story. I have never before seen the reference to “7.5 percent of future receipts,” but then I am not privy to the details.

J.R.R. Tolkien sold movie rights to his “Lord of the Rings” novels 40 years ago for 7.5 percent of future receipts. Three films and $6 billion later, his heirs say they haven’t seen a dime from Time Warner Inc. The accounting methods used by New Line Cinema, the Time Warner unit that made the movies, will face a jury’s scrutiny in October, when the heirs’ lawsuit against the New York-based media company is set for trial in Los Angeles Superior Court.

07-15-2009, 10:57 AM	#1
*Alcuin* Salt Miner Join Date: Jun 2005 Location: gone to Far Harad Posts: 987	‘Hobbit’ Heirs Seek $220 Million From Time Warner Over ‘Rings’ from Bloomberg News. Follow the link to the story. I have never before seen the reference to “7.5 percent of future receipts,” but then I am not privy to the details. J.R.R. Tolkien sold movie rights to his “Lord of the Rings” novels 40 years ago for 7.5 percent of future receipts. Three films and $6 billion later, his heirs say they haven’t seen a dime from Time Warner Inc. The accounting methods used by New Line Cinema, the Time Warner unit that made the movies, will face a jury’s scrutiny in October, when the heirs’ lawsuit against the New York-based media company is set for trial in Los Angeles Superior Court.