Hollywood accounting - Wikipedia, the free encyclopedia
Peter Jackson, director of The Lord of the Rings, and his studio Wingnut Films, brought a lawsuit against New Line Cinema after "an audit... on part of the income of The Fellowship of the Ring." Jackson stated this is regarding "certain accounting practices," which may be a reference to Hollywood accounting. In response, New Line stated that their rights to a film of The Hobbit were time-limited, and since Jackson would not work with them again until the suit was settled, he would not be asked to direct The Hobbit, as had been anticipated. Fifteen actors are suing New Line Cinema claiming that they have never received their 5% of revenue from merchandise sold in relation to the movie, which contains their likeness. Similarly, the Tolkien estate has sued New Line, claiming that while their contract entitled them to 7.5% of the gross receipts, the film studio has refused to pay them any share of the $6 billion dollar hit.
7 ^ TheOneRing.net: Peter Jackson and Fran Walsh Talk THE HOBBIT
8 ^ :15 actors sue New Line Cinema over 'Lord of the Rings' profits
9 ^ The Associated Press: Tolkien Estate Sues New Line Cinema Peter Jackson and Fran Walsh Talk THE HOBBIT | Hobbit Movie News and Rumors | TheOneRing.netâ„¢ | The Hobbit and Lord of the Rings Movie News and Rumors
Thus, someone else will be taking his shoes: The Hobbit (2011) Guillermo del Toro