'The Lone Ranger' Could Cost Disney $190 Million
August 7th, 2013 1:25pm EDT
Disney is anticipating a $190 million loss on big budget flop "The Lone Ranger."
The blockbuster movie starring Johnny Depp and Armie Hammer - which was made on a reported $225 million budget - may cost the movie studio even more than the $150 million initially anticipated by financial analysts.
The company filed its third quarter fiscal results yesterday and told investors in a conference call that they expect to lose $160 to $190 million on the expensive movie, taking into account its monstrous budget as well as costly marketing expenses.
'The Lone Ranger' has stalled at just $86 million in the US, where it opened to a paltry $29 million in its first weekend of release, and its worldwide total stands at $176 million.
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."
Photo Credits: Disney Enterprises, Inc