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

Apigee Becomes the Second Tech Company for Silicon Valley to go Public this Year
Massive Crane Begins its First lift Helping to Build the Tappan Zee Bridge
Shares of Facebook Drop as the Social Networking Company Fails to Match Expectat
First Quarter Profits of Discover Financial Services Drops but Surpasses Analyst
Amgen Inc. Announced First Quarter Earnings that Beat Analysts’ Expectations and
Magnificent, Perfect100-carat Diamond Sells for $22Millon in Sotheby’s Jewelry A
Kraft Revamping Its Iconic Macaroni and Cheese Meal by Removing Synthetic Colour
San Juan Capistrano’s Tiered Rates for Water-Use Thrown Out by Appeals Court
Morgan Stanley Announces Better than Expected First Quarter Profits
Bombardier Aerospace secures contract from Air Niugini
Blue Cross and Blue Shield of Alabama and Alfa Insurance Are Expanding their Par
Diners Club