AMC Reaches $200 Million Settlement With Frank Darabont and CAA in ‘Walking Dead’ Profits Fight
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AMC and Frank Darabont have reached a settlement that will end the long-running “Walking Dead” profits participation lawsuit between the two. AMC will pay $200 million to Darabont and CAA.
The settlement was announced in an SEC filing on Friday.
“The Settlement Agreement provides for a cash payment of $200 million (the “Settlement Payment”) to the plaintiffs and future revenue sharing related to certain future streaming exhibition of ‘The Walking Dead’ and ‘Fear The Walking Dead’,” AMC said in the filing. “The Company has taken a charge of approximately $143 million in the quarter ended June 30, 2021 in consideration for the extinguishment of Plaintiffs’ rights to any compensation in connection with ‘The Walking Dead’ and any related programs and the dismissal of the actions with prejudice, which amount is net of approximately $57 million of ordinary course accrued participations. The Settlement Agreement also includes customary provisions included in such agreements, including providing for mutual releases, covenants not to sue, waivers, confidentiality, non-disparagement and indemnification for third party claims.”
CAA and Darabont sued AMC in 2013 over profits from the hit TV show, after Darabont was fired during the show’s second season. They filed a second suit against AMC in 2018. The 2013 suit claims that Darabont was wrongfully fired from the series, and that he is entitled to proceeds from the show. Darabont says that AMC both produces and airs the series, and struck an agreement in which the network would be “selling” the show to itself, leading to “the improper and abusive practice of self-dealing.”
Darabont developed the series that was based on Robert Kirkman’s comic book of the same name, which premiered in 2010. He was fired from the show in the early stages of production on Season 2.
AMC made an attempt last year to get the 2018 lawsuit thrown out, but the judge ruled that both will continue as part of the same case.
A trial had been delayed multiple times by the pandemic.
Read original story AMC Reaches $200 Million Settlement With Frank Darabont and CAA in ‘Walking Dead’ Profits Fight At TheWrap
