Genting Malaysia Berhad will be moving forward with developing a theme park with Fox intellectual properties outside of Kuala Lumpur, Malaysia after coming to a settlement out of court with 21st Century Fox and The Walt Disney Company.
Last year, tourist resort giant Genting Malaysia Berhad claimed to have spent $750 million to erect a theme park outside of Kuala Lumpur, Malaysia that was said to have utilized Fox intellectual properties, including those of “Ice Age” and “Planet of the Apes.” However, as the park began to come to fruition, they claim Fox started slowing down the deal with “roadblocks.” In the end, they claimed Disney bailed on the deal, which lead to the company pursuing damages of $1.75 billion dollars from The Walt Disney/Fox company.
Now, in an agreement that put the billion-dollar dispute to rest, it seems the developer will get continued license to use Fox intellectual property. GENM states they will now be able to develop the theme park with both Fox and non-Fox intellectual properties. However, the theme park will no longer be called “Fox World.”
It’s also been reported that both the claims and counterclaims will be dismissed by both companies.
As we reported earlier, when Disney and Fox first came under fire by Genting Malaysia Berhad, both companies issued statements expressing their shock in the matter.
“This lawsuit is entirely without merit,” Fox said. “As the Complaint itself makes clear, Genting has been failing to meet the agreed-on deadlines for several years, long before the 21CF-Disney agreement. The allegation that Disney, rather than Fox, finally decided to declare a default is simply made up. We look forward to presenting all the facts in the appropriate forum.”
Disney also responded to the suit, stating: “The claims made against Disney in this matter are utterly without merit.”
Regardless of both company’s rebuttals, it seems GENM came out in the end receiving the properties they were originally promised back in 2013, when the company signed a licensing deal with Fox to create the world’s first Fox-branded theme park called “Fox World.”
Source: Hollywood Reporter