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Paramount and Marvel to continue partnership

A new deal was signed and distribution rights were renegotiated following this summer’s stupendous success of Marvel and Viacom’s Paramount’s “Iron Man”. The two companies which came together for the first time with this movie will produce not just a sequel but a third “Iron Man” in the coming years.

After the roaring success of the “Iron Man” throughout the world, which grossed at least $574 million, the original deal that Marvel will sell rights to local distributors as well as six key international markets, Paramount landed distribution rights worldwide at a reduced fee. However, 8% of the distribution fee claimed by Paramount is decent enough considering the movie’s earnings.

Future will see Marvel reimbursing Paramount’s expenses and having an approval on their P&A budgets. It was a natural decision to pair up according to the chairman of Marvel Studios David Maisel.

Their next release will be “Iron Man – II” scheduled for May 7th 2010. Following releases will include “The First Avenger: Captain America” on May 6th 2011, “The Avengers” on July 15th 2011and “Iron Man III”

Both Marvel and Paramount are excited about their partnership. According to the vice chairman of Paramount Pictures Rob Moore, Marvel’s excellent qualities and proven abilities complement the great filmmaking history of Paramount. He also said they look forward to a long term working relationship.

The sequel will see the return of actor Robert Downey Junior, a favorite idol with children all over the world for the last 40 years, playing the metal suit clad inventor and the wealthy industrialist.

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