The passion for the money

By Charley on 2004-06-09 11:48:21

After failing to call down a plague upon their financial enemies, Mel Gibson's distribution company, Icon Productions, is instead suing Regal Cinemas for at least $40 million in revenue from The Passion of the Christ, according to the Associated Press. ?The lawsuit claims that Regal Cinemas initially agreed to pay 55% of the profits from Passion but later changed their minds and lowered the number to 34%.

Passion is 7th on the all-time highest grossing movie list with just over $370 million. ?It was distributed by an independent distributor, Newmarket Films. ?Standard industry practice usually guarantees the moviehouses a higher percentage of the profits when the film is distributed by an independent because earnings are usually lower.

The lawsuit claims, however, that Icon was guarantedd the 55% up front and later the number was lowered by Regal Cinemas (a company that was formed out of three financially strained movie companies in 2001).

As you can see, the situation is spilling over with potential conspiracy. ?However this thing works itself out, someone is definitely going to hell.

You are currently Not Logged in.
Click here to login or sign up

Subject:  

xComment: