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More on Speed Racer Lawsuit

posted on 2003-04-25 17:25 EDT
DiC suing Speed Racer Enterprises for $5M+

DiC is seeking at least $5 million in damages and an injunction against Speed Racer Enterprises, barring the company from selling rights to the Speed Racer show to any other companies.

The lawsuit stems from the recent expiry of DiC's license to the show. Speed Racer Entertainment claims that DiC knowingly allowed their contract to expire by failing to exercise an option for more episodes by December 31st. However DiC contends that Speed Racer Enterprises purposefully withheld information about the terms of the contract option in a bid to remove DiC from the picture.

The original agreement between DiC and Speed Racer Enterprises was signed in August 2002. By this agreement DiC received the broadcast rights to a limited number of Speed Racer episodes, which are being broadcast on Nikelodeon Sundays at 2pm.

The first eleven episodes of Speed Racer were recently released on DVD in the Speed Racer Limited Edition DVD from Artisan Entertainment.

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