AceShowbiz - The long-running legal battle over Frank Darabont's profits from "The Walking Dead" has finally been settled. On Friday, July 16, it was revealed that AMC has to pay out $200M to the former showrunner and his agency, CAA.
"The Settlement Agreement provides for a cash payment of $200 million (the 'Settlement Payment') to the plaintiffs and future revenue sharing related to certain future streaming exhibition of 'The Walking Dead' and 'Fear The Walking Dead'," a filing read. The sum will cover past and any future earnings that Darabont would have made on the show.
The filing explained, "With regard to the Settlement Payment, the Company has taken a charge of approximately $143 million in the quarter ended June 30, 2021 in consideration for the extinguishment of Plaintiffs' rights to any compensation in connection with 'The Walking Dead' and any related programs and the dismissal of the actions with prejudice, which amount is net of approximately $57 million of ordinary course accrued participations."
The 3-page document further shared that "The Settlement Agreement also includes customary provisions included in such agreements, including providing for mutual releases, covenants not to sue, waivers, confidentiality, non-disparagement and indemnification for third party claims."
CAA and Darabont sued AMC in 2013 over profits from the hit TV show after Darabont was fired from the show in its second season. In the suit, Darabont, who developed the apocalypse drama based on Robert Kirkman's comic book of the same name, claimed that he was wrongfully fired from the series, adding that he was entitled to proceeds from the show. He also accused the network of "the improper and abusive practice of self-dealing." They then filed a second suit against the network in 2018.
"The Walking Dead" premiered in 2010. The last season of the show is set to debut on August 22. The season, which will be split into different sections, will run for 24 episodes.