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Fox wanted a pony for Christmas, and it got a lovely one Wednesday when a judge ruled that the studio owns a copyright interest in Warner Bros.' mega-budget blockbuster hopeful Watchmen.

Judge Gary Feess's decision arrived late on Christmas Eve, announcing a more detailed judgment would follow "soon," according to the New York Times. Doubtless it made for an even more joyous holiday at Fox, where news of its record-breaking Marley & Me opening was compounded by the potential to pull in between $35-$40 million next March on a film it turned around years ago and didn't spend a dime to produce or market.

Warners, meanwhile, wasn't talking after the decision, which stated specifically that "Fox owns a copyright interest consisting of, at the very least, the right to distribute the Watchmen motion picture." Fox won't, of course; nor will Warner Bros. challenge their rivals' claim in a trial set for late January — six weeks ahead of Watchmen's opening, and thus squarely in the middle of marketing and press rounds.

As we presumed back in August when the squabble loudly spilled into court — with Fox claiming producer Larry Gordon didn't buy the graphic novel's rights before taking it door-to-door for the next two decades — a settlement is the likeliest outcome for all involved. It won't be cheap for Warners, which already has a split with Paramount (Watchmen's international distributor) and co-producer Legendary Pictures and could actually lose money on a fanboy sensation expected to earn more than $350 million worldwide. Nor will it be especially pretty for Fox, whose smartest decision of the last two years on the film side was the one to stay quiet while Warners' lawyers signed off on the studio producing Fox's film. Low class, but well-played. (EW notes today that Fox's lawyers did reach out, which we don't believe and would virtually guarantee a trial if Warners actively and knowingly defied them.)

Speaking of well-played (sort-of), does anyone still have any questions as to why WB moved Harry Potter to May '09? And Christopher Nolan, if you're reading this, WB bosses Jeff Robinov and Alan Horn need to talk to you about fast-tracking the next Batman film. Feel free to call either at home. Like, now.