Post will be long, nothing new here, just what a buddy and I talked about. TLDR Disney could get the FF rights from Fox today if they wanted to, but they want to get more than just that from them.
Today, I was talking to a friend about these licenses that Disney doesn't have even though they bought the parent company (Marvel, Lucasfilm).
Some high level context. Disney has explicitly said they want everything in house (and why wouldn't they)? Iger mentioned it in 2009 and reiterated later. Feige has mentioned it. We also know they want the few Lucas rights they don't currently own as well. This is the company that went out of their way to get the rights to an unknown character - Oswald the Rabbit - after 70+ years because it was the creation of Disney himself, and they felt it belonged to them.
Basically they want the Spider-Man rights they don't currently have from Sony, the Indy distribution and future participation rights from Paramount, whatever Hulk/Namor rights they don't currently have and Marvel theme park rights from Universal, X-Men, FF, and SW:ANH distribution rights from Fox, and whatever else they don't have that is not publicly known.
Fox arguably has the rights to most things that Disney wants and I'll focus on that for this post. When talking to my friend, we both agreed that out of those 3, the weakest one and easiest to pull from Fox would be Fantastic Four. 3 BO bombs (including the 2015 mega bomb), lots of lost revenue, and little to no ancillary revenue makes for a weak franchise to hold on to.
Some people might not know, but Paramount had film (or at least distribution) rights to Thor, Captain America, Iron Man, and Avengers. After Disney bought Marvel, they worked out a deal with Paramount for buying them out of the distribution and marketing rights to Avengers and Ironman 3. The floor payment to Paramount would be
$115MM, but they got significantly more than that due to the BO success of Avengers and IM3 (payout was probably closer to $200MM+).
Disney then bought the rights to the 4 films Paramount had distributed (Ironman, Ironman 2, Thor, Captain America: TFA). We also know from the leaked documents that Disney paid Sony $175MM + a backend payment of 3.5% for every movie (up to $1B and with a ceiling of $130MM every 10 years) to buy them out of the 25% spiderman merchandise rights they had. That's why Sony got paid ~25MM for The Amazing Spiderman 2 even though they don't have any merchandising rights.
Marvel's MCU movies also make more profit than Marvel movies that are not MCU movies. The aforementioned
Amazing Spiderman 2 and
XMen DOFP made around ~70MM - 80MM on a 700MM+ gross BO take.
Ant-Man,
Captain America Winter Soldier,
Guardians of the Galaxy, and
Avengers AOU all made a profit of over $100MM, and that's either not counting merchandise revenue or not the real merchandise revenue value (as Marvel was moving from movie based merchandise to overall merchandising under Disney).
Why am I telling you all this? Simple. Disney could EASILY buy the movie rights to the FF if they wanted to. Right now. Fox would get a lot of **** from fans and especially shareholders if they said no to a deal like the one for Paramount (i.e. $115MM floor or 8-9% of the gross for, let's say Dr. Doom, Silver Surfer, and Fantastic Four movie, whatever is higher). Why keep holding on to a money losing franchise when you can get over $100MM in your coffers right now? However, I doubt Disney has offered Fox such a deal. They needed to do so with Paramount to kick start their MCU and get some value out of their investment. They don't need to give away such a high liquid capital to Fox for just the Fantastic Four. They want to get it all (i.e. X-Men and SW:ANH distribution rights). Or at the very least start pinching away at those rights Fox currently owns (similar to how they have slowly but surely pinched away a lot of Spider-Man rights from Sony). That's why we're still in limbo today, the same reason why probably the Hulk's (and maybe Namor) rights are still in limbo with Universal. Disney wants all those rights, not just parts of it and Fox is not willing to part with X-Men and SW:ANH.
Anyways, sorry about the rant, just the result of a friendly and lengthy conversation that I had