Yay, fanboys and geeks rejoice!

Fox and Warner Bros., who had been locked in judicial battle, have settled in their fight over distribution rights to the upcoming Watchmen movie.

The Hollywood Report is, well, reporting that a settlement was reached including a sizable cash settlement and a percentage of the box office.  Fox had sued Warner Bros. claiming they had the right to first be offered the chance to distribute the movie.  The film producer didn’t first offer Fox this opportunity leading to the suit.

Warner Bros. is said to be persuing action against the producer Larry Gordon for the cost of the settlement.

The movie is to be released March 6, 2009.