Connect with us

Hi, what are you looking for?

Jewish Business News


Weinsteins’ $75 Million Hobbit Profits Claim Rebuffed


The Weinstein Brothers have failed in their attempt to claim millions in profits from the Hobbit movie sequels. New York arbitrator Bernard J. Fried ruled last Friday that the Weinsteins were not entitled to the $75 million which they had sought in royalties.

While not artistically necessary and requiring the addition of a great deal of material from other books as well as original characters, Peter Jackson chose to split The Hobbit into three films. Even if the quality of the movies suffered because of it this proved to be the smart business move because Jackson and Warner Brothers Studios made a fortune in the process. Just multiply however much they made off of the first film in the series by three.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Well the Weinstein Brothers, who were involved in the Oscar winning Lord of the Rings Trilogy, wanted a share of that money. They did receive a share of the profits from the first Hobbit movie which was released in 2012. But the brothers also felt that they deserved a cut of the two sequels too, “The Hobbit: The Desolation of Smaug, ” released last year, and this year’s “The Hobbit: The Battle of the Five Armies.”

Last Year Bob and Harvey Weinstein filed suit complaining that the decision to split the Hobbit into three films somehow denied them a full share in the profits.

“Warner’s position is simply an improper attempt to deprive the people originally responsible for hugely successful films being made from the works of J.R.R. Tolkien of their right to share in revenue from two of the three filmed installments of Tolkien’s The Hobbit, ” said the law suit.

But Warner Brothers responded that the Weinsteins sold their share of the rights already and were fairly paid for it and are now just trying to get more money. The sale was made before the brothers sold MiraMax and founded their new company. Warner Brothers maintained that the fees that it paid the Weinsteins for the first Hobbit film were all that was owed to them.

Apparently the arbiter agreed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.