MUMBAI: Guaranteed $ 115 million, Paramount Studios has closed a deal with Disney
to transfer worldwide marketing and distribution rights to Marvel for films like
The Avengers and Iron Man 3.
The distribution deal was one
of Paramount chairman and CEO Brad Grey's first major moves after taking over
the studio in 2005 and Marvel's comic book-derived tentpoles Iron Man and
its sequel strategically filled the studio's pipeline while the new regime readied
its own franchises.
purchased Marvel Entertainment for $4.24 billion last year, but the latter's current
cycle of films had to be contractually released through Paramount via a distribution
deal in place when Disney entered the picture.
Now that Paramount has Star
Trek, Transformers and Mission: Impossible, it no longer needs the
Grey said, "Five years ago, when Paramount and
Marvel made our initial deal, both our businesses were in very different places.
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."