Disney to distribute 'Avengers', 'Iron Man 3'

Walt Disney Studios has secured the rights to distribute Marvel movies The Avengers and Iron Man 3 from Paramount Pictures, it has been announced.

Disney has paid Paramount $115 million to switch the release rights to the upcoming superhero pictures. Thor and Captain America, both due out next year, will remain at Paramount.

"In completing this agreement, Disney will now assume worldwide marketing and distribution of The Avengers and Iron Man 3 and leverage these two highly-anticipated films across the multiple global platforms of The Walt Disney Company," said Disney chairman Rich Ross.

"We appreciate the tremendous momentum that Paramount established with these iconic Marvel characters and look forward to propelling the brand even further in the coming years."

Paramount chairman and CEO Brad Grey added: "Five years ago, when Paramount and Marvel made our initial deal, both our businesses were in very different places.

"We are grateful for the partnership we have had with the terrific Marvel team over these years and proud of the work we have done together. Today, this new agreement is the right deal for Paramount, for Marvel and for Disney.

"We look forward to working together on Thor and Captain America, and we wish Disney and Marvel the utmost success, in what we know will be a very productive and wide-ranging partnership."

Disney, which owns Marvel Entertainment, will release The Avengers on May 4, 2012. Iron Man 3 has been scheduled for a May 3, 2013 opening.