Disney admits defeat after 'John Carter' loses $200 million
LOS ANGELES (AP) — "John Carter" is now officially a flop of galactic proportions.
The Walt Disney Co. said Monday that it expects to book a loss of $200 million on the movie in the quarter through March.
That'll cause Disney's movie studio to post a loss of $80 million to $120 million for the quarter.
The movie, about a Civil War veteran who is transplanted to Mars, has brought in about $184 million in ticket sales worldwide.
But its production budget is estimated to be about $250 million with an estimated $100 million more spent on marketing.
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