John Carter Causing Write-down

.

John Carter Causing Write-down

It has recently been revealed in a report that a write-down is going to be incurred by Walt Disney, for a sum of $200m. This is going to be for John Carter, the recent movie. The movie had a huge $300m budget as well as promotion and marketing done throughout the world, but it failed to do well at the box office. The movie is based on a novel by Edgar Rice Burroughs.

The movie is actually about a civil war hero from America. He goes to Mars and has a series of adventures there. This has been one of the costliest flop movies in Hollywood in the recent times, and the brunt of the same is being borne by the people who have spent on the making of the magnum opus.

The write-down is definitely a blow for the chairman of the Walt Disney studios, Mr. Rich Ross, who has continued his efforts of trying to improve the returns they are getting after the restructuring.

“You never really know what a budget is for any of these films because Hollywood isn't very open with its numbers. Directionally, though, these are definitely near the top of any list of worst films”, said Keith Simanton, managing editor of IMDb.


Latest News

Yelp Trims Third Quarter Earnings Forecast Also Announces Departure of Its Chair
Solvay, the Belgian Chemical Group to Acquire U.S. Cytec for $5.5 billion
Reports Say Amazon Suggests Dividing Airspace into Zones for Delivery Drones
Federal Reserve Expected to Stay Focused on Rate Hike Plan in September
Oil Prices Drop Near Four-Month Low as Supply Glut and Chinese Economy Increases
Reportedly A.G. Lafley to Pass Reigns of P&G CEO to David Taylor
Baidu Profits in Second Quarter Offset by Higher Expenses
Economists Predict Solid Revenue Growth for Vermont
Swiss bank Vontobel Announces 24 Percent Increase in Profit in the First Half of
President Obama Visits Kenya, His Father’s Birth Place
National Highway Traffic Safety Administration Slaps $105M Fine on Fiat Chrysler
Wealthy, Well Educated People in Early 60’s More at Risk of Harmful Drinking