Board Thread:Movies/@comment-3048593-20170411234907/@comment-3048593-20170602180728

AnnabellRice wrote: My understanding is that Namor is presently under similar terms as Hulk, that is to say, the live action rights are with Disney, but the distribution rights remain with Universal.

So as long as they don't make a project with "Namor" (or even "Sub-Mariner" possibly) in the title of their project, they don't have to worry about who's making and distributing it, unless it's a deal like with Spider-Man where he can appear in the films but not any tv-shows, or vice versa.