Question-and-Answer Session
Operator
(Operator Instructions) The first question comes from the line of Barton Crockett with J.P. Morgan. Please proceed with your question. Your line is now open.
Barton Crockett - J.P. Morgan
Okay, great. Thanks for taking the question. I wanted to ask for maybe a little bit more detail and clarity around the $20 million license fee payment you said you are getting in the first quarter of ’08. And in particular, I wanted to try and understand first, I believe you were saying that this wasn’t in your previous guidance and I want to confirm that. And then secondly, you say this is partially offset by revenues that you would have otherwise received. I was wondering if you could give us some sense of that. Would you have otherwise received $5 million or $10 million, $15 million? Just some type of magnitude there.
And then finally, what happened here? Is this a change in the accounting treatment or is this licensees that are paying to get out early of a contract? Just some clarity there. Thank you.
Kenneth West
With respect to that disclosure that we mentioned and I talked about in my prepared remarks, this really was an acceleration of revenue compared to that which was anticipated in our full year guidance. The amounts that we settled on, approximately $20 million, were slightly in excess of that which we had forecast and they do represent a negotiated settlement that ended two contracts. There’s really nothing more that I can add to clarify.
Barton Crockett - J.P. Morgan
Okay, so when you cited macroeconomic uncertainties, there’s really a kind of a -- and you didn’t change your guidance, there’s not any discrete dollar value we can put around that? I meant, the $20 million was offset by that and macroeconomic, it sounds like the macroeconomic was pretty small, a de minimis number in your thinking there. Is that correct?
David Maisel
Well, Barton, as we said previously, we are all aware of the potential negative impacts of the economy in ’08 on all businesses. So we are being a little cautious. We are very early in the year. We have a toe in the water virtually for ’08 at this point. We are only a month-and-a-half into the year, so we felt that it would be appropriate for us to be a little watchful with our guidance.
But we are -- let me re-emphasize -- we are not aware of any specific circumstances right now where Marvel's business has been hurt by macroeconomic trends.
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