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Disney counting cost of Lone Ranger flop

2013-08-08 18:45
 
The Lone Ranger
Los Angeles - Disney is anticipating a $190m loss on big budget flop The Lone Ranger.

The blockbuster movie starring Johnny Depp and Armie Hammer - which was made on a reported $225m budget - may cost the movie studio even more than the $150m initially anticipated by financial analysts.

The company filed its third quarter fiscal results on Tuesday and told investors in a conference call that they expect to lose $160 to $190m on the expensive movie, taking into account its monstrous budget as well as costly marketing expenses.

The Lone Ranger has stalled at just $86m in the US, where it opened to a paltry $29m in its first weekend of release, and its worldwide total stands at $176m.

Bad reviews

The film's stars and producer Jerry Bruckheimer recently blamed bad reviews in the US for the box office misfortune, claiming critics made up their minds about the Western adventure before it was even released.

Depp - who plays Tonto in the flick - said: "I think the reviews were written seven to eight months before we released the film.

"I think the reviews were written when they heard Gore [Verbinski, director] and Jerry and me were going to do The Lone Ranger. They had expectations that it must be a blockbuster. I didn't have any expectations of that. I never do."

- BangShowBiz

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