American cable channel Fox Business Network and production company Leftfield Pictures have settled their legal battle over a discarded reality series. The two companies had been in the contract dispute that sparked the said lawsuit last year.
According to the Wrap, a joint statement has been issued by the companies on Wednesday. "Leftfield Pictures of NY, LLC and Fox News Network, LLC today announced an amicable and confidential settlement concerning their litigation filed in the Supreme Court of New York," it stated.
The statement went on saying, "No party has admitted any wrongdoing or liability and there has not been any court finding as to the merits of the lawsuit." It also added that both agreed to make any additional comments regarding the conditions of the settlement.
Leftfield Pictures sued Fox Business Network over breach of contract. The cable channel company ordered the production company to produce a reality series which centers estate sale managers with 26 episodes, Deadline reported. However, after three months, Fox Business Network pulled out the series.
The lawsuit was filed at highest court in New York in July last year, seeking $4.5 million in damages from the broken contract. The lawsuit stated, the network failed to pay the production company despite of the contract and that the series was "already in production".
A countersuit from Fox News Network argued Leftfield misrepresented the cast of characters in the series, according to Variety. It also claimed Leftfield did not deliver the first six episodes by a deadline stipulated in the deal.
Now that the lawsuit has been resolved, both companies, Leftfield and Fox Business Network, are looking forward to "work together in the future." Fox Business is owned by Fox News Network while Leftfield was acquired by ITV in late 2014. The series was also envisioned as the first reality series to air on Fox Business Network.
