By Jason A. Hill
In a joint press release yesterday, Walt Disney Company, Paramount, and Marvel Studios announced that the distribution deal between Marvel Studios and Paramount is coming to an end. Disney, who paid four billion dollars for Marvel last year, will pay Paramount $115 million for the transfer of the worldwide marketing and distribution rights for the upcoming The Avengers and Iron Man 3.
Although the partnership between Paramount and Marvel has been a huge success, Disney felt it was in their best interest to push forward the assimilation of Marvel and begin branding it as part of the Disney name.
“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. 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.”
— Rich Ross, Chairman of Walt Disney Studios
Paramount still holds the marketing and distribution rights to Thor and Captain America with planned releases on May 6 and July 22 of 2011, respectively. No indications were given that Disney would purchase these rights as well, but there were signs that could lead to some sort of agreement between the two studios.
“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 … 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.”
— Brad Grey, Chairman & CEO of Paramount Pictures
No one knows for sure what the future holds for Marvel, but we are sure to see a lot more films from its catalog now that Disney is putting its marketing and money power behind them. This deal is timely given a recent ramp-up in activity by Warner Bros into its DC Entertainment division. What’s for sure is that there are many comic film battles coming soon to theaters; let’s hope the real winners will be the fans.
Jason A. Hill is the Founder, Owner and Editor In Chief of Movies I Didn’t Get.com. He is a film critic and writer of articles and film reviews covering a variety of genres and film news that have been syndicated to many sites in the film blogosphere. He specializes in independent film in the US and Asia.
For more information please contact Jason at JasonAHill@MoviesIDidn’tGet.com