According to Variety.com A judge has denied a Warner Bros. motion to dismiss 20th Century Fox’s lawsuit over Warners’ right to make a film based on the graphic novel “Watchmen.”

While Zack Snyder’s new film Watchmen won’t be released in theaters until March 6 of next year, it seems the film could be embroiled in a legal studio battle. The ruling is a massive victory for Fox, which may end up as being a profit participant in the film. Fox retained the rights to the graphic novel by Alan Moore and Dave Gibbons, which the studio originally purchased in 1991. When producer David Gordon picked up the option on the project out of turnaround in 1994, the judge ruled, he never exercised that option for Fox’s remaining interest in the film, therefore, Fox’s rights to the film should still be intact.

Watchmen, directed by Zack Snyder, is currently set for release on March 6, 2009. I am sure there will be more to come regarding this suit but I hope it doesn’t affect the film’s release.