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Disney says ‘John Carter’ to lose $200 million, putting it among biggest flops ever
|Contributor||Homegrown Democrat |
|Last Edited||Homegrown Democrat Mar 20, 2012 01:32am|
|Media||Newspaper - Washington Post|
|News Date||Monday, March 19, 2012 07:00:00 AM UTC0:0|
|Description||LOS ANGELES — “John Carter” is now officially a flop of galactic proportions. |
The Walt Disney Co. said Monday that it expects to book a loss of $200 million on the movie in the quarter through March. That ranks it among Hollywood’s all-time biggest money-losers.
Directed by Pixar’s Andrew Stanton, the 3-D effects-laden movie about a Civil War veteran transplanted to Mars was already headed to the “Red Ink Planet,” according to Cowen & Co. analyst Doug Creutz. Yet he expected a write-down of about half that size.
Disney said “John Carter” has brought in about $184 million in ticket sales worldwide so far. But ticket sales are split roughly in half with theater owners. The movie’s production budget is estimated to be about $250 million with about $100 million more spent on marketing.