In the King Richard lawsuit documents, TW3 Entertainment and Power Move Multi-Media want an injunction requiring Warner Bros. to put all the profits from the movie into a trust for their benefit.
According to the lawsuit, TW3 Entertainment and Power Move Multi-Media bought the rights for Richard Williams’ story, based on his book Black and White: The Way I See It, for a mere $10,000 before Warner Bros. and Will Smith came on board.
Warner Bros. Entertainment reportedly secured the rights for Richard Williams’ story for $1 million, which is quite a bit more than what TW3 Entertainment and Power Move Multi Media paid.
According to TW3 Entertainment and Power Move Multi Media, Williams sold the rights to his life story to them first, well before Warner Bros. came on the scene.