Fox backs away as their deal with the Russo Brothers falls apart

Last Updated on July 30, 2021

In addition to the "there one minute and gone the next" news of Fox selling a portion of its company to Disney, Variety is now reporting that Twentieth Century Fox is backing out of a planned deal to co-finance and distribute film and television projects from Joe and Anthony Russo.

Based on a hand-shake agreement with Fox, both parties were unable to reconcile the final terms when negotiating their overall deal. According to Variety, a source close to the venture said that the Russos were looking for "richer financial terms," than what was offered to them by Fox. It should also be noted that the terms desired by the Russos exceeded deals dealt to top-tier talent such as James Cameron and Steven Spielberg. It's also been said that Fox backed away with the belief that it would be their responsibility to bear a majority of the financial risks that came associated with any of the proposed projects.

Recently, the Russos had gone on record as saying that their involvement with Disney's Marvel universe would end upon the completion of AVENGERS: INFINITY WAR and AVENGERS 4. As a result of that departure, the brothers would then be free to pursue any project that they desire. Last month, while talking with Variety, Joe Russo told the outlet that by brokering a deal with Fox, the duo could go on to make “little movies, big movies, hard R, edgy films, arty films and big giant tentpole movies.” Presumably, even with the Fox deal deader than my hopes for a proper Fantastic Four MCU film, the brothers will find another studio with which to partner for any future projects.

The deal was slain between the Russo Bros. and Fox by way of an email from Fox CEO Stacey Snider, who informed the filmmakers that negotiations were to cease immediately while still wishing the Russos the very best in their search for a partnering studio. Snider was said to have closed her note by saying that "the door was wide open" on Fox's side of the threshold.

Rather than wax rhapsodic about what I think transpired, here's a link to a song that sums up my thoughts quite well.