"A Los Angeles federal judge has ruled that 20th Century Fox owns the distribution rights to Watchmen, representing a setback for Warner Bros.' plans to release the pic in March," Variety reports. So far Warner Bros. still has Watchmen slotted for a March 6th release, but I envision a sitdown with the Fox suits sooner than later.

Walt Disney is getting out of the Narnia business. The studio won't be exercising its option to co-finance The Chronicles of Narnia: Voyage of the Dawn Treader with Walden Media. "The third entry in the series, based on the classic books by C.S. Lewis, was in preproduction and set for a spring shoot for a planned May 2010 release. The development puts the participation of the talent attached in doubt," per The Hollywood Reporter.

The Watchmen lawsuit won't slow the flow of comic book movies. "Arcana Studios is developing a feature version of the comicbook series Paradox, which centers on a police detective using unorthodox methods of investigation in a world powered by magic." Watch me pull a warrant out of my hat.