Hulk, Iron Man and More for FX
By: Jarrod SarafinDate: Monday, March 17, 2008
Source: Variety
Marvel Studios has just landed a potentially large financial windfall by preselling the future cable rights for Iron Man, Incredible Hulk and to-be-announced titles to the FX network, reports Variety. The article mentions 3 to be named projects also included in the deal and once again confirms that director Edgar Wright is in charge of adapting Ant-Man into a theatrical film.
"This is a watershed deal for the company," said David Maisel, chairman of Marvel Studios. "It's a real vote of confidence" in the ratings potential of Marvel superheroes, he added, particularly since not one of the five movies has landed in theaters yet.
Paramount will open Iron Man on May 2, while Universal releases The Incredible Hulk on June 13. Although Paramount and Universal are not involved in the basic-cable sale, they still retain the pay TV rights. Showtime has Iron Man and HBO gets The Incredible Hulk through the networks' output deals with Paramount and Universal, respectively.
As with most of the basic-cable pre-buys, the net agrees to pony up a license fee that hovers at around 11% of the domestic gross, a figure that cuts off at $200 million. If all five movies end up as $200 million-plus blockbusters -- a very big if, of course -- FX would pay the maximum $22 million apiece for a grand total of $110 million.
As part of the deal with Marvel, FX will schedule a marathon of superhero movies on the premiere dates of Iron Man and The Incredible Hulk, allowing Marvel to use the commercial breaks to promote the two theatrical releases.
FX also will allow Marvel to carve out a window in the network's four-year license term to sell a run or two of Iron Man and The Incredible Hulk to a broadcast network.
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