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20th Century Fox Faces Pressures After Dark Phoenix and Stuber Flops

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RAMROD

Twentieth Century Fox received its first-quarter grades from the Walt Disney Co. last week, and in a public rebuke, the studio’s new corporate parent made it plain that it viewed the first few months as an ominous sign of trouble ahead.

In a sharp reprimand that left staffers at Fox reeling and worried about their already fragile job security, Disney chief executive Bob Iger declared on the company’s Aug. 6 quarterly earnings call that “the Fox studio performance … was well below where it had been and well below where we hoped it would be when we made the acquisition.” Iger’s tone was measured, but his message was clear: Shape up.

Iger was giving voice to simmering frustrations on the part of many Disney insiders. Several people close to the matter say Walt Disney Studios chief creative officer and co-chairman Alan Horn and co-chairman Alan Bergman have been troubled by the poor box office returns and the viability of numerous projects in various stages of development.

Of the first few Fox films that Disney was tasked with distributing this year, only one, “Breakthrough,” released in April, was profitable. The faith-based movie grossed $50 million worldwide on a $14 million budget and was produced by DeVon Franklin — whose overall production deal at Fox dissolved in the merger.

The other Fox movies that Disney released — “X-Men: Dark Phoenix,” the action comedy “Stuber” and “The Art of Racing in the Rain,” which opened this past weekend to just $8.1 million — were flops. Those offerings had the added misfortune of arriving just as Disney was shattering records with blockbusters such as “Avengers: Endgame,” “Aladdin,” and “The Lion King.”

Still, the Fox numbers were dismal. “Dark Phoenix” was a franchise-chilling failure that contributed to a $170 million write-down, and Fox is mired in seventh place in U.S. market share, behind all its studio rivals.

“If Disney hadn’t bought Fox and they were just going along with business as usual, there’d still be layoffs and there’d be a For Sale sign on the lot,” says Jeff Bock, box office analyst with Exhibitor Relations. “There’s no way they’d have been able to survive in this climate.”

 

Full article at Source:

https://variety.com/2019/film/features/fox-disney-earnings-dark-phoenix-stuber-racing-in-the-rain-1203300260/

 

I am seeing a deep purge in Fox by Disney in few months to come to restructure that place and making it into the studio with Billion dollars hit makers the way Disney wanted it. There could be lotsa more lay offs, I believe. :diane:

 

(ノ◕ヮ◕)ノ✧*:・゚ ♥ I ♥ Forgot ♥ That ♥ You ♥ Existed ♥
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M Monstre

I heard that they were already scraping most (if not all) of the Fox movies except for big ones like Avatar.

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Lilmonzter

They really need a shakedown and regroup 

Je Ne Sais Pas Pourquoi
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River

After how they resurrected Marvel, I trust Disney to fix Fox's mess.

20 minutes ago, M Monstre said:

I heard that they were already scraping most (if not all) of the Fox movies except for big ones like Avatar.

yeah most of them are X-Men related:

Gambit, X-Force, Deadpool 3, The New Mutants 2 (the first will be released and end the X-Men saga under fox), Alpha Flight and Exiles, Multiple Man, Kitty Pryde and the last is a a crossover of X-Men, Daredevil and Fantastic 4.

Edited by River
I'm not serious 99% of the times ;)
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RAMROD
19 minutes ago, M Monstre said:

I heard that they were already scraping most (if not all) of the Fox movies except for big ones like Avatar.

I heard that too. Perhaps not promising enough. Or them filmmakers refuse to elaborate. They need to adapt imho, it is basically mew workplace now for them. New systems and hierarchy. And all that.

(ノ◕ヮ◕)ノ✧*:・゚ ♥ I ♥ Forgot ♥ That ♥ You ♥ Existed ♥
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MrG1087
17 minutes ago, River said:

After how they resurrected Marvel, I trust Disney to fix Fox's mess.

yeah most of them are X-Men related:

Gambit, X-Force, Deadpool 3, The New Mutants 2 (the first will be released and end the X-Men saga under fox), Alpha Flight and Exiles, Multiple Man, Kitty Pryde and the last is a a crossover of X-Men, Daredevil and Fantastic 4.

Dark Phoenix was such a disappointment. It was more of a terrible film if anything. And the crazy part is that they evidently learned nothing from their mistakes with Last Stand. Fox presumed they would sell big because it was X-Men & Dark Phoenix...and it was clearly the opposite...

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Nightwing

Dark Phoenix should have been swept under the rug. I was so disappointed in that film.

The only good thing about it was the soundtrack, honestly. And I would say that it should have been a two-part film, but it wouldn't have been worth it at the end of the day.

I'm so happy X-Men is under Disney now. Now we'll finally get a decent movie. I just hope we don't have to wait five years for it.

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