Warners, Fox 'Watchmen' lawsuit settled

"Watchmen" fans will be watching one of the most anticipated movies of '09 on March 6th as scheduled.

Warner Bros. and 20th Century Fox have resolved their drawn-out disputed over the "Watchmen" film adaptation. The studios will present the settlement to the court today.  Details of the agreement have not been disclosed, but the deal is said to include a payout to Fox and a percentage of the film's boxoffice gross.

Terms of the agreement are favorable for Warner. Fox will not co-distribute the Zack Snyder directed film or co-own the "Watchmen" film property, but it will share revenue. Warners settled the case because the studio faced the prospect of an injunction stopping its March 6, 2009 release in theaters and IMAX.

In February Fox sued Warners, claiming the studio infringed its copyright based on agreements the studio had with producer Larry Gordon. The judge ruled back on Dec. 24 2008 that Gordon did not secure proper rights to "Watchmen" from Fox before shopping the project to other studios. Warners is said to be after the producer to reimburse the studio for costs of the settlement.

Based on the celebrated graphic novel, "Watchmen" tells the story of an alternate 1985 America, where costumed superheroes are part of the fabric of everyday society. When a former costumed hero is murdered, the masked vigilante Rorschach sets out to uncover a plot to kill and discredit all past and present superheroes. The film stars Billy Crudup, Jackie Earle Haley, Jeffrey Dean Morgan, Malin Akerman, Matthew Goode, Patrick Wilson. Source