April 28, 2005
Stan Lee Settles; For $10 Million?

I guess
that first round victory was a knock-out after all, as
wire reports claim that Stan Lee and Marvel have settled on a November 2002 suit brought by Lee against Marvel seeking they pay him 10 percent from movie and related monies according to a clause in a 1998 contract. It was largely believed that due to the crushing victory of that first round decision, combined with Marvel's flush state and desire to continue in the movie business without a PR albatross in the shape of its own public spokesperson, and Lee's desire not to be in litigation with his longtime employer for a second longer than he had to, settlement was inevitable no matter how much public smack Marvel's lawyers talked about appeals. In fact, the case went to a mediator to make that possible.
The wire reports say the terms were undisclosed, but
concurrent business reports seem to indicate a corporate post-it where Marvel essentially notes "Took $10 million from cookie jar to pay Stan Lee." Original estimates bandied about in gossip among industry folk were that Stan might settle for somewhere in the $10-$25 million range.
I was reminded by reader Alex Chun this morning about the differences between mediation and arbitration, which I knew, but made the mistake anyway because I suck. It's fixed now.
posted 7:35 am PST |
Permalink
Daily Blog Archives
November 2019
October 2019
September 2019
August 2019
July 2019
Full Archives