‘Iron Man 3’ Release Date Announced

Not that anyone doubted that a third “Iron Man” film would be made, but fans can now breathe easy knowing that it’s coming – in May 2013, distributed locally and internationally through Disney.

Coming Soon informs that Disney, Paramount and Marvel have reached an agreement under which Paramount foregoes distribution rights for “The Avengers” and “Iron Man 3,” both of which are Marvel property.

Instead of being distributed by Paramount, the two blockbusters will arrive on the silver screen thanks to Disney, which has also agreed to pay Paramount $115 million for the transfer of distribution rights as guarantee.

As part of the distribution deal, Disney will also handle marketing for the two highly anticipated releases, which will probably mean more plugging for them on all channels.

This could also translate into a bigger budget for “Iron Man 3,” voices in the industry are whispering.

“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,” Rich Ross, Chairman of The Walt Disney Studios, says.

“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,” Ross adds.

The deal doesn’t leave Paramount is not exactly empty-handed either. Aside from the minimum guarantee of $115 million, Paramount retains distribution rights for the upcoming “Thor” and “Captain America.”

“Five years ago, when Paramount and Marvel made our initial deal, both our businesses were in very different places,” Brad Grey, Chairman & CEO of Paramount Pictures, says.

“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,” Grey adds.

“Iron Man 3” is scheduled for a tentative release date on May 3, 2013. “Thor” comes out on May 6, 2011, while “Captain America: The First Avenger” is out on July 22, 2011.