By Jessica Kiang | The Playlist October 18, 2010 at 7:48AM
Even though last we heard it was still at least a few years away, Disney is making sure their $4 billion buyout of Marvel starts paying back some of that investment sooner rather than later.
To that end, the studio has purchased the distribution rights for "The Avengers" and "Iron Man 3" from Paramount for a relatively bargain price of $115 million. The money will be owed on the release dates for the films, May 4, 2012 for the former and well, no release date yet for the latter. In fact, this is the first time there has been any release news on an "Iron Man 3" since last we heard it was still a few years away from happening, but now its been scheduled with a May 3, 2013 release date. But when it does happen, don't expect Jon Favreau to return to the director's chair as relations between the director and the comic company have soured considerably.
As for Paramount, they are still on board to release "Thor" and "Captain America" as planned next year and they will also be releasing Favreau's next film, "Cowboys Vs. Aliens." [Deadline] -- Kevin Jagernauth