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Disney buys Marvel Movies from Par
Disney has acquired from Paramount the distribution rights to the upcoming Marvel feature films The Avengers and Iron Man 3 for a guaranteed payment of at least $115 million.
According to The Hollywood Reporter, the deal calls for Paramount to receive its normal 8 percent distribution fee on Avengers, due out May 4, 2012, and 9 percent on Iron Man 3. The $115 million fee will be paid the studios on the release date of Avengers as a minimum guarantee against the distribution fees.
Disney makes the move to benefit from its $4 billion purchase last year of Marvel, whose studio division had a distribution deal in place with Paramount at the time of the sale. Paramount will still handle distribution on Thor, due out May 6, and The First Avenger: Captain America, due out July 22.
Disney announced a May 3, 2013 release date for Iron Man 3.