OnWithTheShow
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http://biz.yahoo.com/rc/040716/media_marvel_disney_1.html
Marvel sues Disney over cartoon series profits
Friday July 16, 5:28 pm ET
LOS ANGELES, July 16 (Reuters) - Marvel Enterprises (NYSE:MVL - News) sued Walt Disney Co. (NYSE
IS - News) on Friday for about $55 million, accusing Disney's ABC Family group of channels of shortchanging it on payments for cartoon series of "Spider-Man," "The Incredible Hulk" and "X-Men"
A Disney spokesman said the company had not seen the suit and declined to comment.
Marvel Enterprises, which owns the superhero series distributed by Family channels before and after Disney acquired Family, said Disney claimed they did not make money.
"Disney's accounting statements ask Marvel to swallow as reality the tall tale that Disney has continued to lose money on the popular series and that Marvel is not entitled to any profit distribution," Marvel said in a breach of contract suit filed in a Los Angeles Superior Court.
Disney recently prevailed in a dispute over U.S. merchandising rights to honey-loving bear Winnie the Pooh when a judge threw out the case. That suit, which is being appealed, also involved accounting issues, although it was dismissed after the court ruled Disney's foes had tampered with evidence and lied, undermining the legal process.
Marvel claimed at least $54.8 million in damages from Disney, accusing it of failing to pay it properly, to provide accounts about the comic series, and of failing to merchandise the cartoon characters.
Marvel sues Disney over cartoon series profits
Friday July 16, 5:28 pm ET
LOS ANGELES, July 16 (Reuters) - Marvel Enterprises (NYSE:MVL - News) sued Walt Disney Co. (NYSE
IS - News) on Friday for about $55 million, accusing Disney's ABC Family group of channels of shortchanging it on payments for cartoon series of "Spider-Man," "The Incredible Hulk" and "X-Men" A Disney spokesman said the company had not seen the suit and declined to comment.
Marvel Enterprises, which owns the superhero series distributed by Family channels before and after Disney acquired Family, said Disney claimed they did not make money.
"Disney's accounting statements ask Marvel to swallow as reality the tall tale that Disney has continued to lose money on the popular series and that Marvel is not entitled to any profit distribution," Marvel said in a breach of contract suit filed in a Los Angeles Superior Court.
Disney recently prevailed in a dispute over U.S. merchandising rights to honey-loving bear Winnie the Pooh when a judge threw out the case. That suit, which is being appealed, also involved accounting issues, although it was dismissed after the court ruled Disney's foes had tampered with evidence and lied, undermining the legal process.
Marvel claimed at least $54.8 million in damages from Disney, accusing it of failing to pay it properly, to provide accounts about the comic series, and of failing to merchandise the cartoon characters.
