Walt DIsney Cuts Fox Costs Following Studio Failure
After a series of Fox studio failures, parent company Walt Disney will significantly cut its subsidiary's budget and restructure and reorganize. As noted by the Comic Book, as part of these events will be fired employees responsible for promoting the movie "X-Men: Dark Phoenix." By order of the head of Walt DIsney Bob Iger, the Fox studio should be implemented the same financial discipline and manufacturing standards that apply to other divisions of the corporation. Most of the projects in development have been canceled, and the priority will remain to continue the fantastic movie Avatar and restart the Planet of the Apes. Recall that, according to the company's financial report, in the third quarter, Fox reported a massive $ 170 million in losses. "One of the biggest challenges was Fox's productivity, which was much lower than it could have been, and much lower than we had hoped for when we made this acquisition," Bob Iger said in a statement on the matter. Experts believe it will take at least two years before any positive changes take effect and impact Fox's results. The Topic of Article: Walt DIsney Cuts Fox Costs Following Studio Failure. |
