The Walt Disney Studios, Paramount Pictures and Marvel Studios report they have reached an agreement under which Paramount will transfer its worldwide marketing/distribution rights to Disney for Marvel Studios' big screen comic book adaptations "The Avengers" and "Iron Man 3".
Paramount will remain worldwide distributor of the upcoming features "Thor" and "Captain America: The First Avenger".
Under terms of the new deal, Disney will pay Paramount $115 million for the transfer of distribution rights to "Iron Man 3" and "The Avengers" to be paid on the theatrical release dates, serving as a minimum guarantee against distribution fees.
"In completing this agreement, Disney will now assume worldwide marketing and distribution of 'The Avengers' and 'Iron Man 3' and leverage these two highly-anticipated films across the multiple global platforms of The Walt Disney Company," said Rich Ross, Chairman of The Walt Disney Studios.
"Five years ago, when Paramount and Marvel made our initial deal, both our businesses were in very different places," said Brad Grey, Chairman & CEO of Paramount Pictures.
Disney is planning a May 3, 2013 release date for "Iron Man 3".
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