Another fantasy property, another impending lawsuit. So what else is new? This time around, the lawsuit is swirling around the upcoming “Conan” remake by Nu Image (to be distributed through Lionsgate). Conan Properties International is suing Lionsgate and producer Edward R. Pressman for net profits from the Conan property, including what will be generated from the upcoming remake.
The film series, based on the 1930s pulp novels by Robert E. Howard, was conceived in 1977; at the time, Conan Properties licensed rights to Hollywood producer Pressman in return for five percent of all net profits from the film and its sequel.
Five years later, when the film finally came out, Pressman’s firm sublicensed the film, kicking off a series of handoffs. Conan Properties sued Pressman in 1983 and that matter was settled. But according to this complaint, the chain of custody, which assigned rights to the film from Pressman to Paradise Films to December Associates to Modern Entertainment and finally to Lionsgate, left Conan Properties forgotten.
The defendants have breached the original Pressman agreement and 1983 settlement, the complaint alleges, by “failing to remit to (Conan Properties) 5% of 100% of all net profits derived from the exploitation of the first film…and any sequel…based upon the Property, including but not limited to domstic and international distribution on DVD.”
See, I told you remaking “Conan” was a bad idea. Now if only they’ll stop and move on to some other property…