Magnolia Pictures Drops Suit Over Discovery’s Magnolia Network

Independent-film distributor Magnolia Pictures LLC voluntarily dismissed its trademark infringement lawsuit in Texas federal court against Discovery Inc. and house flippers Chip and Joanna Gaines over the upcoming launch of their Magnolia Network.

Magnolia Pictures told the U.S. District Court for the Northern District of Texas on Friday that it was dismissing the case with prejudice, meaning it can’t be revived, and which often indicates a settlement. Magnolia Pictures’ lawyers and Discovery didn’t immediately respond to a request for more information.

Magnolia Pictures is a subsidiary of Mark Cuban and Todd Wagner’s 2929 Entertainment LP, known for distributing foreign and ...