Tuesday, March 20, 2012

John Carter flop to cost Walt Disney $200m

The Movie John Carter has recorded one of the biggest losses in cinema history

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Walt Disney has said it expects to lose $200m (£126m) on its movie John Carter, making it one of the biggest flops in cinema history. The film, about a military captain transported to Mars, could result in an $80-120m loss for Disney's movie business during the current quarter. Disney shares fell 1% in after hours trading after the announcement. The firm is still likely to make a substantial quarterly profit, though, thanks to its TV businesses. It is estimated that John Carter cost $250m to make and it is likely that Disney spent another $100m on marketing.

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