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

Rise in Russian Arms Sales In spite of a Drop Globally
PetSmart Sells itself with an $8.3Billion Deal
Falling Oil Prices Result in a Drop in Stocks
Shares of Amaya Fall Due to Probe Conducted by Securities Regulators
Americans Consumers Display Confidence In the Market with Gain in Sales
It’s Time to Hurry Up to Enrol in the First Phase of Affordable Care Act Health
After Merger with Alliance Boots,	Walgreen CEO will Retire
Falling Fuel Prices Lift Airline Profits But No Respite in Fares Expected
Citigroup to Pay Likely $2.7B as Legal Charge
Michael Jeffries Retires as the CEO of Abercrombie & Fitch
Deutsche Bank in Trouble Again in the U.S. for Alleged Tax Scheme
Popular Demand Brings French Toast Crunch Back on the Shelves