- Universal Studios (NASDAQ:CMCSA) has settled a class action suit over underpaying home video royalties for $26M, Deadline Hollywood reports.
- In return for the payments, class members would agree to release claims and agree to accounting revenues based on a 20% royalty going forward.
- The two-year-old lawsuit claims that 20% home video royalties became the norm in the early 1980s, and that films made before then should still be entitled to royalties from 100% of home video revenues.
- The suit also names Paramount Pictures (VIA, VIAB); and that action continues.