Originally slated to go to trial in April 2022 and with a month to go before the long-running AMC series kicks off its extended 11th & final season run, there's now one thing about The Walking Dead that's already been put to rest- the really, really long-running legal wrangling between former series showrunner Frank Darabont, CAA, and AMC. Basically, we would need a law and accounting degree to offer you a more specific breakdown of the matter at hand, but in a nutshell? Darabont and CAA were seeking about $300M in profit participation payouts in what would become a matter layered with lawsuits that would include Walking Dead creator Robert Kirkman, Gale Anne Hurd, and other executive producers also looking for proper accounting.
In paperwork filed by AMC with the SEC, the cable network declared that they paid $200 million to the Shawshank Redemption director and the uber agency to settle the legal matter. "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 exhibitions of 'The Walking Dead' and 'Fear The Walking Dead'," read the filing. "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 declaration continued. "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." What does that mean for those who don't have access to friends who know legal-ese? That's a wrap on a case we thought would out-live the series.
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