DreamWorks Animation takes $87 million write-down on ‘Guardians’
DreamWorks Animation SKG said it would take an $87-million charge on last year’s holiday movie “Rise of the Guardians,” marking the largest write-down the studio has ever taken for one of its own movies.
Analysts had estimated that the studio would take a write-down of from $70 million to nearly $100 million on the film, which represented a rare box-office misfire for DreamWorks, creator of the popular “Shrek,” “Kung Fu Panda” and “Madagascar” films.
“Rise of the Guardians,” which cost about $145 million to make, has generated $302 million in global box-office ticket sales since its debut in late November, well short of a typical DreamWorks Animation movie.
The film -- about a group of folk heroes, including the Tooth Fairy and Santa Claus, who join forces to protect children from an evil nemesis -- faced tough competition during a record Thanksgiving weekend at the holiday box office, losing business to “Lincoln,” “Life of Pi,” “Twilight: Breaking Dawn Part 2,” “Skyfall” and Disney’s animated hit “Wreck-It Ralph.”
-- Richard Verrier, Los Angeles Times