Wednesday, July 7, 2010

Liars, Damn Liars . . . and Disney Accountants

Remember that situation involving the author of "Forrest Gump" who was denied any royalties by the movie's producer on the basis that the film lost money? Well, here we go again with the fuzzy math of Hollywood accounting. Disney's accountants claim that Disney LOST $73 million in the three year prime-time run of ABC's "Who Wants to Be a Millionaire" despite the fact that it brought in more than $1.8 billion in advertising revenue and $515 million in merchandising revenue.

Restoring some degree of faith in the justice system, the jury hearing the suit by Disney's partners aggrieved by the accounting practices awarded the partners nearly $260 million in damages.

Evil Mickey.

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