WILL Paramount Pictures be able to make a new version of “Breakfast at Tiffany’s?” Or will it be another studio? On Feb. 2, Paramount hinted at how it will be defending the claim that it has lost ownership by sitting on rights for too long.

Paramount has a screenplay for a new movie, according to court papers. But Alan Schwartz, Trustee of the Truman Capote Literary Trust, has been shopping a television series, and has gotten seven-figure offers from multiple interested buyers. Early last year, both sides pursued settlement with the idea that Paramount would be involved in the TV production, but in May, negotiations were halted.

In 1991, Paramount and the Capote Estate entered into a new agreement. Under this deal, Paramount got a US$300,000 option to purchase rights within three years to make a new movie based on “Breakfast at Tiffany’s.” And if Paramount didn’t exercise its option, it would convey rights to the Capote Estate.

Paramount exercised its option, but it didn’t make a timely movie.(SD-Agencies)