"Porky's" Rights Dispute Settled - Howard Stern

A lawsuit over whether a cheap version of the 1982 comedy allowed a film producer to retain rights is now over. Good news for Howard Stern?

The shock jock has been interested in another version of Porky's for a long time, and several years ago he acquired the rights to do just that. Or so he thought.

In 2011, a lawsuit popped up that clouded the situation. Last week, that dispute was quietly put to bed.

Porky's, about a group of kids intent on losing their virginity, was originally made by Melvin Simon, a billionaire who owned a lot of malls as well as the Indiana Pacers. In the 1990s, rights to Porky's were said to have been sold to Lontano Investments.

Around the turn of the century, Lontano struck a couple of deals that gave Mola Entertainment the right to make a film based on the property as well as the right to produce a sequel if it satisfied the conditions of its deal. One of its obligations was completing the first picture within five years.

The deadlines got pushed back a few times via additional payments and the "force majeure" of a strike by the Writer's Guild of America.

Eventually, with the clock ticking, Mola was under the gun to make a movie or lose those rights. So a film that was originally titled Porky's: The College Years and later changed to Pimpin' Pee Wee was produced.

In the lawsuit that then commenced in 2011, Lontano and Mola fought over whether the cheapo $1.5 million version of Porky's meant that Mola still had the right to do another film. Lontano argued that the terms of the contract required a minimum budget of $10 million. Mola disagreed with that assessment.

The parties have now reached a confidential settlement and last week agreed to dismiss a claim and counterclaim with prejudice. An attorney for Mola confirmed the settlement but declined to discuss the terms.

Read More... http://www.hollywoodreporter.com/thr-esq/porkys-rights-dispute-settled-574164

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