Remember the halcyon days in the mid 2000’s when everyone thought they could make money flipping real estate for profit after watching shows like Property Ladder and Flip This House?
Richard Davis, host and inventor of real estate reality television series Flip This House, sued distributor A&E Television Networks for his share of the profits from the TV show. He claimed to have an oral agreement with an A&E representative to split profits from the show 50/50.
One reason for the profit split was because flipping houses for television wasn’t a profitable business.
The Post and Courier reported: Ginger Alexander, Richard Davis’ partner, “testified that the firm’s normal business took longer because of the series and that, overall, the company lost money creating episodes of the show because it still holds a few unsold properties.”
Also from the Charleston Post and Courier: A federal jury awarded Richard Davis $4 million in his lawsuit for his share of the profits from the successful television show.
A&E disputed that any agreement existed. Its lawyers declined to provide immediate comment on the ruling, which came after more than five hours of deliberation.
“I’m very pleased with the verdict,” said Mount Pleasant attorney Frank M. Cisa, who represented Davis. “These cases are very tough to prove.”
Excellent coverage of the whole story is available at Flip This Lawsuit