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Julie Taymor And Spider-Man Producers Reach Settlement


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After more than a year of brinkmanship at the negotiating table, the producers of the Broadway musical “Spider-Man: Turn Off the Dark” and their former director, Julie Taymor, announced on Wednesday that they had reached a settlement in their acrimonious legal battle over profits, copyright claims and artistic credit for the $75 million show, the most expensive in history.

The two sides disclosed the settlement together in a joint statement, a rare moment of accord in a once-close relationship that ruptured in March 2011, when the producers fired Ms. Taymor because of disagreements over making major changes to the show, which was generating negative buzz during a problem-plagued period of preview performances.

Terms of the settlement agreement were not released.

But one person close to Ms. Taymor and briefed on the terms said that the monetary settlement for her was “significant” and would ultimately total millions of dollars if “Spider-Man” proved to be a lucrative property. The person familiar with Ms. Taymor’s financial deal spoke on condition of anonymity to discuss the private settlement

Now in its third year of performances on Broadway, the musical is routinely one of the top-grossing shows in spite of negative reviews from theater critics; its ticket sales have softened in recent months, however, and some weeks the show barely covers its weekly running expenses of roughly $1.1 million, which are the highest on Broadway because of the show’s aerial stunts and technical complexity.

Last week the production grossed about $1.4 million, a strong showing but relatively minimal if the producers are to have a chance at recouping their $75 million capitalization from profits in New York.

The legal settlement makes it vastly easier for the “Spider-Man” producers to make deals for future versions of the musical in cities and countries where labor and production costs are significantly lower than in New York. The producers have been eyeing Las Vegas; London; Hamburg, Germany; and parts of Asia as possible locales for future productions of “Spider-Man.”

The lead producers of “Spider-Man,” Michael Cohl and Jeremiah Harris, said in a statement: “We’re happy to put all this behind us. We are now looking forward to spreading ‘Spider-Man: Turn Off the Dark’ in new and exciting ways around the world.”

Ms. Taymor said in a statement, also released by the musical’s press agent, “I’m pleased to have reached an agreement and hope for the continued success of ‘Spider-Man,’ both on Broadway and beyond.”

 

From: New York Times

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After more than a year of brinkmanship at the negotiating table, the producers of the Broadway musical “Spider-Man: Turn Off the Dark” and their former director, Julie Taymor, announced on Wednesday that they had reached a settlement in their acrimonious legal battle over profits, copyright claims and artistic credit for the $75 million show, the most expensive in history.

The two sides disclosed the settlement together in a joint statement, a rare moment of accord in a once-close relationship that ruptured in March 2011, when the producers fired Ms. Taymor because of disagreements over making major changes to the show, which was generating negative buzz during a problem-plagued period of preview performances.

Terms of the settlement agreement were not released.

But one person close to Ms. Taymor and briefed on the terms said that the monetary settlement for her was “significant” and would ultimately total millions of dollars if “Spider-Man” proved to be a lucrative property. The person familiar with Ms. Taymor’s financial deal spoke on condition of anonymity to discuss the private settlement

Now in its third year of performances on Broadway, the musical is routinely one of the top-grossing shows in spite of negative reviews from theater critics; its ticket sales have softened in recent months, however, and some weeks the show barely covers its weekly running expenses of roughly $1.1 million, which are the highest on Broadway because of the show’s aerial stunts and technical complexity.

Last week the production grossed about $1.4 million, a strong showing but relatively minimal if the producers are to have a chance at recouping their $75 million capitalization from profits in New York.

The legal settlement makes it vastly easier for the “Spider-Man” producers to make deals for future versions of the musical in cities and countries where labor and production costs are significantly lower than in New York. The producers have been eyeing Las Vegas; London; Hamburg, Germany; and parts of Asia as possible locales for future productions of “Spider-Man.”

The lead producers of “Spider-Man,” Michael Cohl and Jeremiah Harris, said in a statement: “We’re happy to put all this behind us. We are now looking forward to spreading ‘Spider-Man: Turn Off the Dark’ in new and exciting ways around the world.”

Ms. Taymor said in a statement, also released by the musical’s press agent, “I’m pleased to have reached an agreement and hope for the continued success of ‘Spider-Man,’ both on Broadway and beyond.”

 

From: New York Times

thank you...this is interesting stuff

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Ms. Taymor said in a statement, also released by the musical’s press agent, “I’m pleased to have reached an agreement and hope for the continued success of ‘Spider-Man,’ both on Broadway and beyond.”

 

I'll rephrase that:

 

I'm pleased to have received such a big payoff, and hope that spider man becomes hugely unpopular on broadway and beyond

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