Vin
02-01-2002, 03:18 PM
The WB network has conjured up $160 million for the television rights to New Line's "Lord of the Rings" trilogy, despite the fact that the second and third film have not yet aired, a network spokesman confirmed.
The WB will share the rights to the films with its sister cable networks, TNT and TBS, making the deal an example of corporate synergy. New Line, The WB, TNT and TBS all share the same parent company, AOL/Time Warner.
The franchise's first film, "The Lord of Rings: The Fellowship of the Ring," is a box office juggernaut, making over $260 million domestically since its Dec. 19 premiere, as of Wednesday, Jan. 30. The license fee for this film alone was valued at about $60 million for ten years, while the fee for the second and third films will depend of their box office totals.
The WB and Turner will gain the rights to the first film starting in fourth quarter 2004, following the movie's pay TV run on Starz!/Encore. The following two films, which are slated for released Dec. 19, 2002 and 2003, will be ready to air on TV in 2005 and 2006, respectively.
FOX also expressed interest in the "Rings" movies, but Turner had an edge given that it owned the rights to the first film as part of an output deal the company signed with New Line in the summer.
The "Rings" deal is New Line's biggest television deal to date. The studio's previous box office hits include "Austin Powers" and "Rush Hour." However, it is not the most expensive deal of its kind. ABC recently agreed to pay $130 million for Warner Bros.' two Harry Potter films, "Harry Potter and the Sorcerer's Stone" and the upcoming sequel "Harry Potter and the Chamber of Secrets." For the first movie alone, ABC is paying $70 million for a 10-year licensing deal. ABC will share the films with the Disney Channel.
FOX also reportedly paid $80 million each for a 10-year exclusive deal for "Star Wars: Episode 1 -- The Phantom Menace" and a 12-year exclusive deal for "The Lost World: Jurassic Park."
This is the first time a theatrical film will get a broadcast TV premiere on The WB.
Source: TV.zap2it.com
The WB will share the rights to the films with its sister cable networks, TNT and TBS, making the deal an example of corporate synergy. New Line, The WB, TNT and TBS all share the same parent company, AOL/Time Warner.
The franchise's first film, "The Lord of Rings: The Fellowship of the Ring," is a box office juggernaut, making over $260 million domestically since its Dec. 19 premiere, as of Wednesday, Jan. 30. The license fee for this film alone was valued at about $60 million for ten years, while the fee for the second and third films will depend of their box office totals.
The WB and Turner will gain the rights to the first film starting in fourth quarter 2004, following the movie's pay TV run on Starz!/Encore. The following two films, which are slated for released Dec. 19, 2002 and 2003, will be ready to air on TV in 2005 and 2006, respectively.
FOX also expressed interest in the "Rings" movies, but Turner had an edge given that it owned the rights to the first film as part of an output deal the company signed with New Line in the summer.
The "Rings" deal is New Line's biggest television deal to date. The studio's previous box office hits include "Austin Powers" and "Rush Hour." However, it is not the most expensive deal of its kind. ABC recently agreed to pay $130 million for Warner Bros.' two Harry Potter films, "Harry Potter and the Sorcerer's Stone" and the upcoming sequel "Harry Potter and the Chamber of Secrets." For the first movie alone, ABC is paying $70 million for a 10-year licensing deal. ABC will share the films with the Disney Channel.
FOX also reportedly paid $80 million each for a 10-year exclusive deal for "Star Wars: Episode 1 -- The Phantom Menace" and a 12-year exclusive deal for "The Lost World: Jurassic Park."
This is the first time a theatrical film will get a broadcast TV premiere on The WB.
Source: TV.zap2it.com