Lantern Entertainment, which bought the assets of The Weinstein Co. out of bankruptcy, has come to a settlement with Endemol Shine over Peaky Blinders, the cult crime drama set in 1920s England.
Endemol claimed to have terminated a deal with TWC over Peaky Blinders once word surfaced of Harvey Weinstein’s alleged sexual misconduct. Endemol asserted that TWC breached representation and warranty on the agreement and prejudiced its right to exploit the series by not informing Endemol of the sexual abuse claims.
In Delaware bankruptcy court, Endemol objected to any assumption by Lantern of Peaky Blinders, which had Lantern responding that Weinstein’s conduct didn’t materially impact a bargained-for contract. Meanwhile, Netflix put $1.6 million in license fees into an escrow account to let Endemol and Lantern duke it out.
The money is headed to Endemol now after Lantern takes it.
According to a stipulation by the parties, accepted by the judge, Lantern has agreed to pay Endemol $1.52 million as a “cure amount” plus $693,000 for season four of the series.
In return, Endemol is withdrawing its objections to the assumption of the contract.
The deal heads off a trial next year as Endemol and Lantern report to the judge they desired to avoid the burden and expense associated with the litigation.