Warners vs. Weinsteins

A dispute between Warner Bros. and Bob and Harvey Weinstein over whether the Weinsteins are entitled to additional payments for the rights to the
The Hobbit movies is going to arbitration, according to
Hollywood Reporter. Miramax, owned by the Weinstein brothers, had the movie rights to
The Hobbit and
Lord of the Rings and sold them to New Line (now part of Warner Bros.) in 1998. The Weinsteins were paid roughly $12.5 million (5% of first dollar gross) for the first
Hobbit movie, but Warners is arguing that payments from the rights sale should end. The Weinstein brothers are fighting for the same percentage of the second and third movies as they received on the first.
The Hobbit: An Unexpected Journey grossed a little over $1 billion worldwide.
The Hobbit: The Desolation of Smaug is scheduled to open on December 13, 2013.