Will we ever see another SEC filing drop like the one on Friday by AMC revealing a $200 million settlement resolving Frank Darabont’s profits from developing The Walking Dead? It’s not merely the e…
. These controversies came at a particular time for the industry: The deregulatory wave of the 1980s and 1990s brought an end to “fin-syn” rules. As a result, networks were no longer forbidden from retaining financial interests in programs they aired. Consolidation occurred. Syndication flourished. And huge vertically-integrated media conglomerates were both producing and distributing content.
In turn, creatives with a profit stake challenged the “sweetheart” deals they were witnessing between studios and affiliated entities. Those with contingent backend compensation, the payday that comes later upon a show’s success but is dependent on how revenue and expenses are defined, would sue or arbitrate their beliefs of being shortchanged., once the most popular show on cable, was undersold by AMC’s studio arm to its network arm, he insisted.
As buyouts become the name of the game in the TV industry, and the backend becomes less lucrative, nine-figure settlements after years in court could go away. For now, entertainment lawyers surveyed say they expect any forthcoming lawsuits to focus on older shows being added to streamers’ libraries. “The studios are hungry for content to launch and maintain their new digital services,” says Bennett Bigman at Russ August & Kabat.
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