A settlement of $200,000,000 has been reached between AMC Networks and Frank Darabont, CAA, in The Walking Dead profit-sharing lawsuit. AMC Networks filed a Securities and Exchange Commission filing (SEC) on Friday, 16 July.
Variety reports that Darabont, CAA, and Fear the Walking Dead will continue to make money from streaming deals. However, the rights to the plaintiff have been purchased for any content not related to The Walking Dead.
Darabont, CAA, and the original contract stipulated that they will each receive $57 million in profit participation revenue. This also forms part of the $200m settlement.
Darabont, who was the writer-director for the show, filed the lawsuit. AMC fired him in 2013. Further, the publication reports that CAA also filed a lawsuit as they were Darabont’s representatives. They were the ones who packaged TWD Series.
Deadline reports that the trial was originally scheduled to begin in April 2022 but was postponed due to the coronavirus epidemic. Rumors have circulated that AMC was in discussions with plaintiffs over the past few months.
The publication reports that Darabont and CAA are not the only ones involved in the creation of The Walking Dead. Robert Kirkman, Gale Anne Hurd, and other executive producers have claimed that they were also cheated of large profits from the show.
AMC Networks executives stated that they expect a free cash flow of $200 million in 2021 during their first-quarter earnings call with Wall Street analysts. AMC Networks now anticipates that the free cash flow will be at or near break-even after the settlement.
The final season of TWDseries will be released on 22 August. This will be the eleventh season.