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" The much-hyped historical film, which cost as much as $140 million to make and market, met box office disaster during its opening weekend, pulling in only $9 " The Mel Gibson-produced film about Jesus Christ's last hours has earned more than $350 million since its February release , which some analysts believe will be withdrawn soon, might be given new life if Disney continues to stumble 1 million in revenue " But the survival of Disney chief executive Michael Eisner is predicated on the company meeting its goal of 30 percent earnings per share growth this year, as well as double digit growth through 2007 The company might also wait until the third quarter to take a writedown, hoping for a box office recovery during the next few weeks "The Alamo," which was expected to be one of Disney's big "tentpole" releases this year, tied for third place at the box office with Fox Searchlight's "Johnson Family Vacation," which debuted in far fewer theaters and cost only about $21 million to make It didn't help that "The Alamo," which opened to mixed reviews, arrived in theaters on Easter weekend, a traditionally slack time for movies " "I have no excuse Analysts still believe the company will meet its near-term financial targets based on a recovery at its theme parks, growing profits at its ESPN cable sports network and strong DVD sales from last year's films, including the Pixar Animation Studios production "Finding Nemo " Disney officials declined comment Monday 70 Monday on the New York Stock Exchange Disney's 'Alamo' May Be a Losing Battle Apr 12, 4:24 PM EST Disney may want to forget "The Alamo And an unsolicited bid from cable television giant Comcast Corp "Now we just have to see if the movie has any legs Disney still has high hopes for such forthcoming films as the Jerry Bruckheimer epic "King Arthur" and Pixar's "The Incredibles The movie just underperformed," Disney head of distribution Chuck Viane said Sunday It was also up against "The Passion of the Christ," which led the weekend's box office returns with $17 Shares of the company were down 34 cents to close at $25 Disney could write off much of the film's cost against its second quarter earnings, however, even though "The Alamo" was released during the third quarter of its fiscal year, analysts said That's bad news for Disney, which has had a string of box office disappointments this year, including its animated "Home on the Range," as well as "Hidalgo" and "Ella Enchanted "The Alamo" is unlikely to recoup its costs, even at the international box office and in DVD release, some analysts said Monday Disney could write off as much as $80 million on "The Alamo" alone, in addition to a $70 million combined write down for "Home on the Range," and the Coen Brothers film, "The Ladykillers," according to Jordan Rohan, an analyst at Schwab Soundview Capital Markets 2 million and leading some analysts to trim second-quarter earnings estimates for The Walt Disney Co The two companies want to set up a competitive bidding process for Princeton Video and will make the first bid "We are unable to make the next payroll without (that) loan," Green said Shareholders likely will lose all of their investment and unsecured debt will be extinguished or paid pennies on the dollar, Green said "If no one else bids, they will own the company and it will be a private company," Green said They include the National Football League, the Southeast Conference in college football and the Philadelphia Phillies baseball team com PVI, hampered by high costs for marketing, developing its technology and going public, lost $4 million in the first quarter of this year, after losing $21 â€â€?â€â€?â€â€? On the Net: http://www Green said the company will be able to continue serving all its customers The company was delisted from the Nasdaq Small Cap Market in March, when shares began trading on the over-the-counter bulletin board The company will survive after reorganization, but it will no longer be publicly traded, said James Green, president and chief operating officer J Shares closed down 2 cents at 2 cents each Thursday , and New York City, has lost a total of $65 million since its 1990 founding, has almost run out of cash and has been unable to raise enough money from new investors 2 million in 2002 despite nearly doubling revenues to $10 Princeton Video Plans Ch Green said Princeton Video is negotiating to sell most of its assets to a newly formed entity owned by its two big shareholders, whom he expects to provide "debtor-in-possessio n" financing for about three months 11 Filing May 23, 7:24 AM EST Princeton Video Image Inc and Presencia en Medios, a Mexican electronics supplier, own about 45 percent of Princeton Video's common stock and are its only secured creditors Cablevision Systems Corp PVI's virtual ads, visible only to television viewers, appear behind home plate during baseball games and are superimposed on playing fields and auto racing tracks That switch should save more than $1 million a year due to the higher costs publicly traded companies bear for insurance and other items, he said Princeton Video has about 75 employees in six locations, but once had about 175 workers The company's board of directors and a bankruptcy court must approve any asset sale 65 million, respectively, Green said Cablevision and Presencia will reorganize the business, but Green expects no further layoffs Princeton Video, with headquarters in Lawrenceville, N Their secured debt is $5 million and $2 8 million pvimage , a provider of virtual advertising and the company that pioneered the yellow first-down line seen on NFL telecasts, will file for Chapter 11 bankruptcy protection, its president said Thursday |
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