Disney Sees Red (Big Time)

Sometimes in Hollywood cash seems like play money. Take Disney's write-off of one of the biggest flops to date, "John Carter." Chris and I wanted to see the film but for some reason we never made it to the cinema. Apparently neither did anybody else as Disney will be taking a hit of about $200M. The House of Mouse released the following statement:

“In light of the theatrical performance of John Carter ($184 million global box office), we expect the film to generate an operating loss of approximately $200 million during our second fiscal quarter ending March 31. As a result, our current expectation is that the Studio segment will have an operating loss of between $80 and $120 million for the second quarter. As we look forward to the second half of the year, we are excited about the upcoming releases of The Avengers and Brave, which we believe have tremendous potential to drive value for the Studio and the rest of the company.”