Walt Disney Studios has announced to drop "Iron Man 3" in U.S. theaters on May 3, 2013. The studio sets the release date soon after they acquire distribution and marketing rights on the third "Iron Man" movie and "The Avengers", which is due May 4, 2012, from Paramount Pictures.
According to reports, Paramount will receive distribution fees for both films with a guaranteed minimum of $115 million regardless of how the films perform. Insiders say the studio will receive its usual 8% distribution fee for "The Avengers" and an increase to 9% for the third "Iron Man" as a reward for launching one of Hollywood's most valuable franchises.
The deal is said to benefit both Disney and Paramount. The mouse house will undoubtedly get profit from the two films after recently faltering on the box office, while a source says Paramount sees the deal as an opportunity "to do no work on 'Iron Man 3' and 'Avengers' " and still make more money on the films.
Paramount still retains distribution rights on two other Marvel properties "Thor" and "Captain America: The First Avenger". The studio additionally will focus on its next projects including "Star Trek", its relaunch of the "Mission: Impossible" series and the Jack Ryan series.