It's a lump of coal in Warner Bros. stocking.

Just in time for Christmas, a federal judge in Los Angeles has ruled that Twentieth Century Fox owns the movie distribution rights to "Watchmen," not Warner Bros., leaving the release of the film directed by Zack Snyder in serious doubt.

The judge issued his ruling after most people went to bed across the country preparing for Thursday's Christmas holiday, and it seems to forego a January court date for both sides that had been originally scheduled by the judge, trade entertainment publication Variety said. Warner Bros. insists it owns the rights to the film, even after Fox filed suit in February trying to block the release of the film.

Fox, however, says it first acquired the rights to the film in the late 1980s through producer Lawrence Gordon. He never exercised his option to retain the rights after the studio spent $1 million in development, and Fox says it retained full control of the rights in 1994 through a turnaround agreement.

What will happen now is almost anyone's guess, although it seems almost assured that Warner Bros. will file an appeal.

"Fox owns a copyright interest consisting of, at the very least, the right to distribute the 'Watchmen' motion picture," Judge Gary Allen Feess said in his ruling.

If the ruling were to stand, it's possible that Warner Bros. could strike a deal with Fox that would help it recoup some of its production and distribution costs, but lose out on almost all the profit. Or Fox could simply shelve the film indefinitely.

"Watchmen" was supposed to be released March 6, but it's not clear if that date is even available to Warner Bros.

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