Box Office Flops Blamed for Losses at De Laurentiis

De Laurentiis Film Partners, a limited partnership formed by De Laurentiis Entertainment Group in November, 1986, to finance the acquisition and production of motion pictures, Friday reported a net loss of $6 million for the second quarter and a cumulative loss of more than $8 million in the first half.

According to the company, the loss was due primarily to the disappointing performance of “Million Dollar Mystery,” a $10-million production that bombed at the box office last June despite a gimmick that offered moviegoers the chance to win $1 million for figuring out where the movie’s money is hidden.

De Laurentiis Film Partners had an interest in three other films produced and distributed by De Laurentiis Entertainment Group--”Crimes of the Heart,” “From the Hip” and “Evil Dead II”--all of which fared poorly at the ticket window. The partnership also owns an interest in three movies to be released within the next year--”Date With an Angel,” “Bill and Ted’s Excellent Adventure” and “Traxx.”

De Laurentiis Film Partners stock closed at $4.87 Friday on the American Stock Exchange, up 25 cents.

De Laurentiis Entertainment Group reported a loss of $1.3 million for the fiscal year ending Feb. 28 and a loss of $15.5 million for the first quarter of 1987. DEG stock closed at $5.875 Friday on the American Stock Exchange, up 12.5 cents. Since first selling its stock to the public in May, 1986, its stock has traded as high as $17.75.

The financially troubled company has said that it is considering a major restructuring or a change in ownership. Among the companies reported to be interested in acquiring an interest in DEG are Guber-Peters, a movie production firm; 20th Century Fox; Paramount Pictures, and Home Box Office.