Recently Disney announced that they are planning to lay off 124 employees at the 20th Century Fox Film Corp. that is now owned by Disney. According to the Los Angeles Busniess Journal, Disney has already laid off 264 works and could lay off as many as 3,000 at the Fox Studios.
This news comes as Disney has reportedly killed most Fox films that are still in development. The exceptions are “Avatar”, “Planet of the Apes”, and Fox Searchlight movies according to reports. This comes as Disney had a bad 3rd quarter at the box office and reported a $170 million operating loss.
Disney also announced that Fox’s superhero titles would be moving forward under the stewardship of Feige. Disney reportedly was very upset with the “Dark Phoenix” movie flop that represented the last chapter of the current X-Man franchise. The film cost $200 million to make but only made $65 million domestically.
“One of the biggest issues was the Fox studio performance which was well below where it had been and well below where we hoped it would be when we made the acquisition,” Disney CEO Bob Iger said. “It will probably take a solid year, maybe two years, before we can have an impact on the films in production. We’re all confident we’re going to turn around the results of Fox live action,”
Now many Fox movies are so far along that they will continue to be made. This reportedly only affects movies in early development at this time.
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