Will Smith, Richard Williams, And Warner Bros. Production Companies Reach Settlement For “King Richard” Film

King Richard is back on! The biopic based on Venus and Serena’s tennis coach father Richard Williams, was put on hold when TW3 Entertainment and Power Move Multimedia claimed they were the true owners of his story.

As we previously reported, the multimedia companies said Williams sold his life story to them years ago, and if anyone wanted to tell the story, they would have to get approval from them first. This prompted a lawsuit.

According to court documents obtained by ET, Warner Bros., Overbrook (Will Smith’s production company), Williams and his son and business partner Chavoita Lesane, and production company Star Thrower Entertainment (as well as its executives Timothy and Trevor White) “have entered into a settlement” with TW3 Entertainment and Power Move Multi Media, who are “dismissing their claims against defendants with prejudice.”

The two parties, however, ask the court retain “jurisdiction over the Parties to enforce the payment term in the settlement.”

King Richard was set to hit theaters in 2021. No update on whether or not the release year will change.