Originally Posted by Spider-Fan
FOX can use ultimate material. It's not the same line or universe, but they're still the same characters.
I wonder because they have "Fantastic Four" and yet they don't have a whole lot of stuff you might assume they'd get with that--Black Panther, Inhumans, Skrulls, etc. The terms of that deal seem to be very specific, and they may be specific enough that a derivative work like an "Ultimate" book could be considered outside of its scope. Even if there's nothing stopping Fox from doing "teenage Fantastic Four," they wouldn't be able to use other characters or concepts from that book.