Genting Malaysia has come to a settlement with The Walt Disney Company and 21st Century Fox. The park will get to use Fox’s intellectual property but it will no longer be called “20th Century Fox World.”
Genting signed a licensing deal with Fox back in 2013. Long before the idea that Fox would be bought by a theme park giant like The Walt Disney Company.
Genting Malaysia originally filed a lawsuit against Fox. Saying that Genting had spent $750 million just to have Fox walk away from the project. Genting was seeking $1 billion in payment. The deal had Fox with an annual license fee and a cut of retail sales, but Fox became uninterested in the overall concept. Fox wanted to renegotiate the deal for better economic terms. Fox knew that soon-to-be owner Disney would be disinterested in a theme park not built by them and close to casinos.
Fox struck back against Genting with counterclaims suing Genting Malaysia $46.4 million. Fox claims that GENM (Genting Malaysia) demonstrated “little thought” to the “integrity of Fox’s intellectual property.” Fox thought it was enough to justify the termination of the deal.
A settlement has been struck for both sides. Genting will still get to use Fox IP. Genting has said that the park’s construction and development will be updated with Fox IP and non-Fox IP. A third party approved two rides for the theme park using Fox property “Independence Day — Defiance” and “Night at the Museum — Midnight Mayhem.”
The outdoor theme park which will no longer be called “20th Century Fox World” could open as soon as 2020. The billion-dollar lawsuit between Genting and Disney/Fox is finally settled.
The park is built on 250 acres and will feature 25 attractions if all goes to plan (which it hasn’t so far). The original park plans included using Fox intellectual property like Ice Age, Rio, Life of Pi, Night at the Museum, Planet of the Apes, Alien vs. Predator, Titanic, and Sons of Anarchy. Other than the two approved rides so far. It is unclear what Fox properties will make it into the park and what non-Fox IP’s will show up in the Genting Group’s theme park.
Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
