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Walt DIsney to cut Fox spending after studio failure

Walt DIsney to cut Fox spending after studio failure
After a series of failures of the Fox studio films, the parent company Walt Disney will significantly reduce the budget of the controlled structure and carry out restructuring and reorganization. According to the publication of Comic Book, as part of these events, the employees responsible for the promotion of the film "X-Men: Dark Phoenix" will be fired.

By order of the head of Walt DIsney, Bob Iger, Fox must implement the same financial discipline and production standards that apply in other parts of the corporation. Most of the projects under development are curtailed, and the sequel to the fantastic movie Avatar and the restart of Planet of the Apes will remain a priority.

Recall that, according to the financial report of the company, in the third quarter, Fox studio losses reached a very impressive $ 170 million. "One of the biggest problems was Fox's performance, which was much lower than it could be, and much lower where we hoped when we made this acquisition," said Bob Iger in a statement on this.

Experts believe that it will take at least two years before all the positive changes take effect and affect the results of Fox.
2019-08-19 08:27:01