News: Fox Gains Interest in Watchmen

It’s official! On Wednesday Warner Brothers studio got an un-welcomed Christmas gift. It came in the form of a judges ruling, regarding their highly anticipated Watchmen adaptation. For the past year, Warner Brothers and 20 Century Fox have been duking it out over the theatrical rights of the DC graphic novel.  According to MTV, Judge Gary Alan Feess ruled in favor of Fox stating that the studio does have a valid interest in the Watchmen film.

More on the ruling after the jump.

The theatrical rights to “Watchmen” — the bestselling graphic novel of all time — have been mired in a series of complicated dealings dating back to the 1980s when Fox acquired the property for producer Larry Gordon. The studio subsequently abandoned plans to make the film, and Gordon began the search for a new partner.

In its long-standing lawsuit, Fox has argued that Gordon never exercized his option to acquire their remaining interest in “Watchmen,” thus leaving distribution rights with the studio. Wednesday’s court decision would mean the judge now agrees with that position.

In an additional layer of complication, however, Paramount obtained international distribution rights through an agreement with Warner. That arrangement would presumably also be affected by this latest ruling.

Is this the film industry or an episode of The Hills? I’m confused.