Disney to pay Paramount Pictures $115 million for Iron Man 3 and The Avengers

By on Oct 19, 2010 in Entertainment, Movies Comments

Disney is being reported to pay Paramount Pictures $115 million for the distribution of the films and Iron Man 3 and The Avengers, international entertainment news sites said today.

This is in line with the agreement between Walt Disney Studios, Paramount Pictures and Marvel Studios, in which Paramount will transfer its worldwide marketing and distribution rights to Disney for Marvel Studios’ films Iron Man 3 and The Avengers.

Upcoming films Thor and Captain America, however, was reported to still be distributed by Paramount Pictures, including Iron Man and Iron Man 2 which were earlier released.

According to a recent press release, in which Deadline was believed to have acquired, Paramount will release globally Marvel Entertainment’s Thor and Captain America worldwide starting May 6 and July 22 of 2011, respectively.

“In completing this agreement, Disney will now assume worldwide marketing and distribution of The Avengers and Iron Man 3 and leverage these two highly-anticipated films across the multiple global platforms of The Walt Disney Company,” Walt Disney Studios Chairman Rich Ross said.

“We appreciate the tremendous momentum that Paramount established with these iconic Marvel characters and look forward to propelling the brand even further in the coming years.” Mr. Ross added.

“Five years ago, when Paramount and Marvel made our initial deal, both our businesses were in very different places,” said Brad Grey, chairman & CEO of Paramount Pictures.

“We are grateful for the partnership we have had with the terrific Marvel team over these years and proud of the work we have done together. Today, this new agreement is the right deal for Paramount, for Marvel and for Disney. We look forward to working together on Thor and Captain America, and we wish Disney and Marvel the utmost success, in what we know will be a very productive and wide-ranging partnership.” Mr. Grey added.

“Paramount has been a wonderful partner in helping Marvel Studios bring our characters to the big screen,” said Alan Fine, Office of the President, Marvel Worldwide, Inc.

“This agreement makes sense now that Marvel is part of The Walt Disney Company.” Mr. Fine added.

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