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

Deutsche Bank Q3 Loss may be a Record One in a Decade
Volkswagen Scandal Worries the City of Wolfsburg
Strong Component Sale and Weak Won help Samsung’s Third Quarter Profits
Is the U.S. Shale Oil Boom Heading Towards the Beginning of Its End?
Volkswagen Plans to Launch a Recall in January and Fix the Affected Diesel Cars
BOJ Keep Record Stimulus Unchanged
BP Plc will Pay $20 Billion as Penalties for the Deadly Oil Spill of 2010
Ben Bernanke says Larger Number of Executives Involved in 2008 Financial Crisis
United’s New CEO Oscar Muñoz Aims at Improving relation with Workers
The September Job Number Hint at a Sluggish Patch
First Data Launches its IPO, Targets to Raise Up to $3.7 Billion
ConAgra’s Head Quarter Move Announcement gets Positive but ‘Muted’