AMC Networks has reached a $200 million settlement deal with Frank Darabont and CAA in the long-running profit participation lawsuit over TheWalkingDead
The deal calls for AMC Networks to pay Darabont and CAA a total of $200 million. They will continue to receive a share of future profits from streaming deals tied to “The Walking Dead” and spinoff “Fear the Walking Dead.” But for all other “Walking Dead”-related content, the settlement buys out the plaintiffs’ rights.
The $200 million settlement includes $57 million worth of profit participation revenue that AMC had intended to pay the plaintiffs under the terms of the original contracts for “The Walking Dead.” Darabont, the writer-director who launched the show in 2010 that became a juggernaut for AMC, filed suit against the company in 2013 after he had been dismissed from the show.
Meanwhile, Darabont filed another suit in 2018 claiming other fiduciary abuses by AMC related to the profit participation deal. The settlement announced Friday settles both of those cases, which had been combined by the judge. Litigation around allegations of sweetheart deals that short change profit participants have become a specialty for Hollywood litigators for years now ever since the regulatory landscape changed in the late 1990s to allow vertical integration of networks and studios.
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