Television

Disney on track to lose millions on 'The Alamo'

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MUMBAI: Looks like the Western is turning out to be a shaky bet for movie studios. Last year The Missing turned into a loss making proposition for Sony. Now The Alamo which cost well over $100 million to make is poised to cost Disney a substantial loss. In its opening weekend it managed to make only $ nine million.

An AP report states that the flop has led some analysts to reduce the second-quarter earnings estimates for Disney. Even if The Alamo fares better overseas analysts still expect it to lose money.

The report adds that so far Disney could be forced to write off around $150 million on the films it has released this year. Another flop was Hidalgo which was panned by critics as being a second rate Sea Biscuit.

Meanwhile an AFP report added that Disney's stock fell by 2.4 per cent. Media analysts said that it was extremely unusual for a single film to influence the share price of an entertainment company that has diversified its operations.

As reported earlier by indiantelevision.com Disney's CFO Tom Staggs said that the group would increase earnings by 40 per cent this year rather than the expected 30 per cent.

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