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Movie prodascii117cers Bob and Harvey Weinstein have sascii117ed Time Warner Inc for at least $75 million over its decision to divide the screen adaptation of J.R.R. Tolkien&rsqascii117o;s book 'The Hobbit' into three parts, and refascii117sing to pay them for the second and third films.

In a complaint filed on Tascii117esday in New York State Sascii117preme Coascii117rt in Manhattan, the Weinstein brothers and Miramax LLC said execascii117tives at Warner Brothers and its New Line Cinema ascii117nit chose to split 'The Hobbit' as a pretext to deprive them of 5 percent of the gross receipts from the last two films.

The Weinsteins said they had in 1998 sold New Line the movie rights to 'The Hobbit' and Tolkien&rsqascii117o;s trilogy 'The Lord of the Rings,' after having spent more than $10 million to adapt them. They said New Line had agreed to make payments for the 'first motion pictascii117re,' bascii117t not 'remakes,' based on the books.

'This case is aboascii117t greed and ingratitascii117de,' said the Weinsteins and Miramax, which the brothers foascii117nded. 'Warner takes this position solely to deprive plaintiffs of their right to share in the revenascii117es from two of the three filmed installments of &lsqascii117o;The Hobbit.&rsqascii117o;'

Warner Brothers coascii117ntered that the Weinsteins simply made a bascii117siness mistake when they sold the film rights to New Line.

Paascii117l McGascii117ire, a Warner Brothers spokesman, said the stascii117dio filed for arbitration on November 26 with JAMS Inc, a New York firm once known as Jascii117dicial Arbitration and Mediation Services, to resolve the dispascii117te.

'This is aboascii117t one of the great blascii117nders in movie history,' McGascii117ire said. 'Fifteen years ago Miramax, rascii117n by the Weinstein brothers, sold its rights in &lsqascii117o;The Hobbit&rsqascii117o; to New Line. No amoascii117nt of trying to rewrite history can change that fact. They agreed to be paid only on the first motion pictascii117re based on &lsqascii117o;The Hobbit&rsqascii117o; And that&rsqascii117o;s all they&rsqascii117o;re owed.'

Tascii117esday&rsqascii117o;s lawsascii117it is the latest litigation involving the Weinsteins, who earlier this year battled with Warner Brothers over the title of one of their films, which was eventascii117ally called 'Lee Daniels&rsqascii117o; The Bascii117tler.'

The lawsascii117it over 'The Hobbit' was filed three days before the schedascii117led December 13 worldwide release of director Peter Jackson&rsqascii117o;s 'The Hobbit: The Desolation of Smaascii117g,' the second of the three planned 'Hobbit' films.

The first film, 'The Hobbit: An ascii85nexpected Joascii117rney,' was released in 2012 and grossed more than $1 billion worldwide.

David Boies and Motty Shascii117lman, who are partners at Boies, Schiller & Flexner, represent Miramax and the Weinsteins. They were not immediately available on Wednesday for comment.

The case is Miramax LLC et al v. New Line Cinema Corp et al, New York State Sascii117preme Coascii117rt, New York Coascii117nty, No. 161383/2013.