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

Wal-Mart’s New Fix-it Man Has Never Worked in U.S Before
Obama Steps Up Drive to Stop Tax Loopholes for  “Corporate Deserters”
Widening Quarterly Losses Pull Down Amazon Shares
New Zealand Once Again Raises Its Interest Rate Now to 3.5 Percent
UN Human Development Report Points at Inequality for Slow Progress
Facebook Perched to Reach a Record High After Heavy Quarterly Gains
July HSBC Survey Reveal China PMI at All Time High in 18-months
A Woman for the First Time to Join Board of American Apparel
Glaciers Melt near Lahaul, Spiti Make Officials Warn about Flooding
A.H. Belo Corp. Will Sell Providence Journal Newspaper to New Media
Comcast’s Second Quarter Earnings Increase as a Result of Added Internet Custome
Sugar tax Make it to San Francisco Ballot in a 6-4 Vote