Walt Disney Co. said it expects to incur a loss of about $200 million on its big-budget sci-fi film, “John Carter," based on box-office results.
The film’s theatrical performance -- which brought in $184 million in global box-office sales, well shy of expectations -- will drag the film studio to an operating loss that Disney estimated at $80 million to $120 million for the company’s second quarter.
Wall Street analysts had projected a write-down for the film, which cost an estimated $350 million to make and market. One analyst estimated losses would approach as much as $165 million, based on uneven reviews and pre-release surveys of prospective moviegoers.
The Martian adventure story was based on a century-old science fiction series that had inspired other filmmakers, including George Lucas and James Cameron. It was intended as a potential new franchise, which would fuel merchandise sales, theme park attractions and lead to film sequels.
-- Dawn C. Chmielewski, Los Angeles Times