Paramount Takes $115 Million Write-Down for Unreleased Monster Trucks Movie

I know that Warner takes a lot of hits on this board for underperforming, but Paramount has been getting pummeled the past couple of years. Not only with their Star Trek franchise but with movies that had no business being in the category of "big budget fantasy".

Now they're giving their investors the advance warning that this movie will do $115 Mill less than projected.

Paramount Takes $115 Million Write-Down for Movie That Isn’t Released Yet

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The write-down has put an unwelcome spotlight on the project, which was conceived in 2013 by Adam Goodman, then the president of Paramount’s film group, off an idea he had bandied about with his then-4-year-old son. “Monster Trucks,” which had a budget of about $125 million, was initially scheduled for release in summer 2015 but has been postponed three times.

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Paramount gave “Monster Trucks” the green light, originally as an animated film, when the studio was hungry for family entertainment that could sell toys and produce sequels, a model exemplified by competitors like Disney’s “Cars.” Paramount’s distribution deal with DreamWorks Animation had recently ended, and Paramount wanted to start making its own animated features. Along the way, “Monster Trucks” became a live-action movie with costly computer graphics. The production itself proceeded smoothly, said people familiar with the matter, but postproduction work on the special effects have contributed to the movie’s delay.

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