In 2018, Genting Malaysia Bhd. (“Genting”), a hospitality company, filed a $1 billion lawsuit against Foxnext, LLC, Twenty First Century Fox, Inc., Twentieth Century Fox Film Corporation, Fox Entertainment Group, LLC (“Fox”) and the Walt Disney Co. (“Disney”), related to a planned “Fox World” amusement park. Genting alleged Disney had not only abandoned the project, but did so because the park would be contrary to Disney’s “family friendly” reputation given Fox’s planned location, near a casino.
In response to the suit, Fox filed a countersuit in 2019 seeking $46.4 million in monetary damages related to annual license fees, guaranteed amounts or royalties and travel reimbursements pursuant to a Memorandum of Agreement (MoA) dated June 1, 2013, as well as consequential damages, reasonable costs and other relief under applicable law. Disney and Fox reached a settlement on both of the cases. The official statement of the settlement reads in part; “The parties have entered into a restated memorandum of agreement dated 25 July 2019 granting (Genting Malaysia) a license to use certain Fox intellectual properties. (Genting Malaysia) is currently updating its development and construction plans to complete the outdoor theme park utilizing both Fox and non-Fox intellectual properties.”
Although the matter was settled out of court, the settlement does not specify which Fox intellectual properties will be used in the park. While construction of the park is still planned, the settlement report states “Fox World” operates under a new name. It will be interesting to see if there will be additional intellectual property disagreements between the respective parties once the park is completed and the uses begin of the various valuable intellectual property assets.
We will continue to monitor developments in this matter and report on new trademark developments related to the park