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People who follow box office results closely won’t be surprised, but Lionsgate made it official today: Conan the Barbarian, Warrior and Abduction were such stiffs that the company says in an SEC filing it expects to announce that it lost somewhere between $40M-$50M in cash flow for the current quarter. Lionsgate made the unusual forecast in a prospectus to sell 19.2M shares, which stems from its agreement to help billionaire Carl Icahn unload most of his holdings in the company. The arrangement ended Icahn’s effort to take control. Vice Chairman Michael Burns is meeting with investors who might want to buy the shares. Lionsgate stock was unchanged in mid-day trading.
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And the “restructuring” and pink slips begin in 3…2…1…
Pink slips should go to the people responsible for the dog turd that is Abduction. Yikes! Who thought that was ok? My kid sister could’ve written a better story and dialogue.
It was designed for your kid sister.
Pink slips, indeed. Start with marketing and production. Distro should be ok, at least they can get these pieces of crap booked into the theatres, even if it is only for 2 weeks.
Well, at least they have The Hunger Games to look forward to… oh wait, that’s Summit. Well, at least there’s the Saw franchise… oh no they died. Is it just me or do I not see a single Lionsgate title left on the release schedule for this year?
Actually The Hunger Games is Lionsgate, not Summit
Hunger Games is Lionsgate. But I think it’s assuming too much to think that’s going to be a slam dunk. A lot of people are already skeptical about the decisions they’ve made with it. And we all know they’re capable of effing up the marketing.
I know a lot of people who were scratching their heads about pairing Jennifer Lawrence with Josh Hutcherson. Both great actors, but in terms of looks he could be her younger brother. Add in a strange choice of director and a lot of other factors, and people are a bit skeptical like Carrie said.
I really hope they don’t F it up but so far, they’re making me nervous. The casting is strange to say the least… Lenny Kravitz? The director is the guy who made “Seabiscuit”… It comes from Lionsgate which is already a disadvantage… And the PG-13 rating, just from a fan of the novel is not ideal. Eh.
not a big surprise where conan is concerned ppl r sick of remakes!!! but abduction I expected to do better I am going to see it I jus refuse to deal with opening night crowds
not even sure what warrior is.
Conan didnt do bad because of the “remake” curse it had a lot to do with the Websites blasting the movie before it even came out. Basically they wanted another Arnold basterdized version and werent going to let them make the movie more in the vein of the actual books. Notice that ALL the movies released in the last quarter have done dismal business. Its the economy and time of year that doomed the movie.
Like you said, no surprise to people who follow the box office. The worst thing to point out, though is that these 3 films very likely perform better if they are released by any of the other major studios. I am not saying they turn a profit, but they certainly don’t fail as much.
Not a good sign for the Marketing/Distribution team.
Well, in reference to CONAN, they should not have wasted so much on the 3D post principal photogrpahy costs, and they could have saved some cash by not having Morgan Freeman do the opening narration.
With Nick Nolte in Warrior, it has to be good.
Enjoy,.
The
Really those movies didn’t make a lot of money?!?. You make crap and your bottom line will be crap. Unless you are Chuck Lorre
Too bad about Warrior, I really enjoyed that one. Lionsgate just needs to hold out until March when the Hunger Games dollars come rolling in.
Anyone that actually read the script for Abduction could’ve predicted massive flop. The ringing in their ears of ‘Taylor Lautner’ probably clouded their judgment.
So sad, they used to be the Production/Dist. co. to watch. What did they expect from a slate consisting of a franchise that’s no longer relevant starring an unknown, a movie staring the ridiculous one-note brown dude from the teenage vampire crap series and a film about two white thumbs who face off in a boxing match… whoever greenlit this selection need to be shown the door. Nothing here to draw a large audience, or even intrigue art-filmgoers
agree on the other two, but you obviously didn’t see Warrior. or The Fighter.
Warrior was one of the best movies of the year!! Too bad its not getting more viewers.
‘Abduction’ was funnier than Bridesmaids.
Lionsgate is quickly becoming the Chrysler of studios. You put crap on sale and wonder why the public doesn’t buy it?
Yeah, but have you driven the new Dodge Charger?
Wondering why? How do you give Taylor Lautner 5 million dollars for his first lead (outside twilight)? Robert Pattinson got 1.5m for Water for elephants, a drama with a 38m budget who made 120m per BO. They were high or what?
They gave him 5 mil for this?! Christ on a stick, that’s just plain insanity!
C’mon…it’s absolutely no surprise Abduction was a failure! Taylor Lautner can’t act! My sister went to see it and only 19 people were there. She said it was more of a comedy than anything else…everyone laughed themselves silly listening to the dialogue. TL needs to stop pretending he’s THE STAR of the twi movies and buy himself a few acting lessons.
He can’t act and he appears (judging by the trailer – I haven’t seen the movie) to be cross-eyed. Can we at the very least admit that he’s weird-looking.
Do not worry Lionsgate, with The Expendables 2 and The Last Stand coming up you´ll soon have smile on your faces again..
Warrior was such a nice film, though!
LG did a very poor marketing job for Warrior
agreed. warrior is one of the best flicks this year. not sure why lionsgate decided to hold out on the marketing. it’s a shame.
Tough times for Lionsgate. I thought Abduction would have done better out of the gate, though. From the trailer I thought “teenage Bourne.” Singleton hooking his wagon onto the hot kid from “Twilight,” surrounding him with vets like Molina. Looked good on paper, I guess.
As for Conan, meh. Like the poster said above, enough with the remakes/reboots.
Warrior, I dunno. Maybe it was the release date? Eh.
…what? …Taylor Lautner couldn’t open a film? ..but he must if you pay him that much… hate to say it but TOLJDA so!
who is running that company, idiots.
“Brown dude”? You’re all class, Scribe.
it’s because I am one
the hunger games is lionsgate…
I guess they need to start making SAW movies again. Those movies always make them money.
Nope… Lionsgate can’t even make Saw films anymore. They ran that franchise into the ground. If you paid attention to the last couple of Saw films (and, if you were paying attention, this was a precursor to what we’ve seen repeatedly these days and the heart of the problem with LG’s losses right now) the marketing got incredibly lazy. They did little more than simply announce a new Saw film each Halloween. The posters and trailers all looked exactly the same and did little to maintain interest with audiences. Seriously… look at any of the posters from Saw 4-on with the titles covered and try to tell which one belongs to which movie. You can’t. The only reason they were successful as long as they were was because nobody wanted to schedule another horror movie up against them. It took Paramount rolling out Paranormal Activity in the weeks leading up to Saw 6 for the cracks in the Saw franchise to become glaringly obvious and Saw 6 tanked, making less overall than most of the others did in their opening weekends alone. That’s all it took. Once Hollywood smelled the blood in the water, Saw was done for. When Paramount decided to schedule Paranormal Activity 2 on the same weekend as Saw 3D, guess who flinched and moved off that weekend? Lionsgate and Saw.
Warrior ruled. LGF’s marketing made it look like a poor man’s version of The Fighter.
Glad to see abduction fail. The world’ve made less sense had Taylor become a movie star.
Let’s just hope some other studio doesn’t decide he only flopped in the role because the script was bad.
Saw Abduction – had never seen Taylor Lautner before – he’s a teenager – it was a movie about a “teenager” – what the hell do people want – (dialogue was pretty juve) but he played it like a teen (not like the reincarnation of whoever the 50 year old action star of the moment is, that would’ve been something you could really bellyache about. his martial arts skill was pretty good from what I saw & my brother said he looked like he knew what he was doing. Jason Isaacs & Maria Bello’s scenes with him worked. and in so far as him not acting like 007, reminder HS teen & isn’t quite up to snuff on the super agent voodoo. I was entertained and the popcorn was good…throw in a bottle of water and the ticket price was a bargain compared to the REFRESHMENTS. my opinion is that the critics were snarky and came across as a constrictor snacking on a puppy. overkill!
You probably have brain damage to think Abduction was entertaining.