According to a Variety report, Larry Sanitsky, a producer on the original It miniseries from 1990 is allegedly suing Warner Bros. Pictures for a breach of contract. Sanitsky, along with his now-deceased partner Frank Konigsberg, acquired the rights for the Stephen King book back in the 1980s through their company Telepictures. The company eventually merged with Lorimar, at which point the two left but apparently signed a deal to be made a “non-exclusive executive producer” on all future projects under the It name. Herein lies the basis of Sanitsky’s suit.
Sanitsky claims that he has never been consulted by the studio about the It film adaptations and now seeks ten percent of all net profits from both films. For reference, in 2017, It grossed over $700 million worldwide. He also claims that the studio has been intentionally underreporting profits and withholding payouts. Warner Bros. stopped issuing profit statements on the 1990 miniseries in 1995 and in March when they issued their first since that time, it was revealed that the producers were owed $1 million.
Warner Bros. has yet to comment on the suit.
It Chapter Two is scheduled to release worldwide on September 6th of this year. Watch the trailer for the upcoming sequel below.