The Walking Dead lawsuit settles at $200 million!

AMC Networks has settled ‘Walking Dead’ legal suit with filmmaker Frank Darabont and Creative Artists Agency for $200 million.

The Oscar winner film0maker Frank Darabont has played a great role in the development of the globally popular AMZ’s zombie show- “The Walking Dead” in 2010. However, in the later years, the showrunner Darabont realized that he wasn’t properly compensated enough for his contribution in the show. As a result, he files a legal suit against the show and the process went on for a long time.

Multiple lawsuits stating the network “had used shady accounting to short them on profits,” were files. However, after a long legal process and some twists in the case, AMC has decided to settle the case against Frank Darabont for $200 million.

The news was released by AMC as a part of their report to the U.S. Securities and Exchange Commission. The statement read, “The Settlement Agreement provides for a cash payment of $200 million (the ‘Settlement Payment’) to the plaintiffs and future revenue sharing related to certain future streaming exhibition of The Walking Dead and Fear The Walking Dead.”

Later it was revealed that an amount worth $143 million of it was for “the extinguishment of Plaintiffs’ rights to any compensation in connection with The Walking Dead and any related programs and the dismissal of the actions”. Other $57 million was meant for the “ordinary course accrued participations.”

In other words, AMC was already paying $200 million to Frank Darabont to settle the past, and cover any future earnings that Darabont would have made on the show The Walking Dead.

In addition to the cash payment by AMC to Darabont, the settlement also provides revenue sharing for future streaming exhibitions of “The Walking Dead” and “Fear The Walking Dead” to Darabont. It means that Darabont will not get his part of revenue from the show, which is set to release its last season, but AMC will also pay the filmmaker the amount from the spin off or the upcoming spin offs of the show.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

St Kitts and Nevis: PM Terrance Drew addresses national concerns in ‘The Roundtable’ interview

 Dr Terrance Drew - The Prime Minister and Minister of Health of St Kitts and Nevis, participated in a special interview with the media members called “The Roundtable,” yesterday, April 19, 2023, at 12 pm.

Tibet: China blames for collecting DNA samples of Tibetan young children to change their identity to Chinese

Lhasa, Tibet: The Tibetans have been suppressed under the continuous authoritarian regime of China as the monitoring is becoming challenging with every passing day in the region. 

Crown Prince of Dubai passes resolution to align ICT strategies

The Crown Prince of Dubai has passed a resolution to align the ICT strategies of the government entities to push forward digital transformation and reduce risks.

Recent

Saudi Arabia: Nation may run-out of interceptor missiles in months

An official from the Joe Biden administration has reportedly claimed that Saudi Arabia’s interceptor missiles for US-made Patriot air-defence may be exhausted in “months”....

Dubai Police honours young girl for handing over gold chain that she found in community

Dubai Police has honoured 11-year-old girl Jannatul Afia Mohammed for her truthfulness and for being a responsible resident of the UAE.

St Kitts and Nevis: PM Terrance Drew hosts Pre-Labour Day Meeting

Dr Terrance Drew - The Prime Minister of St Kitts and Nevis, has shared a glimpse of the Pre Labour Day meeting held in Halfway Tree Constituency Number 04 on the sidelines of the Labour Weekend Celebrations 2023.