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Hollywood Accounting

All articles tagged with #hollywood accounting

entertainment2 years ago

Michael Lewis Offers Insight on Michael Oher's Conservatorship Lawsuit

Author Michael Lewis, who wrote the book that inspired the film "The Blind Side," has weighed in on the ongoing legal battle between Michael Oher and the Tuohy family. Oher, the former NFL star who inspired the book and film, filed legal documents requesting the termination of a conservatorship, alleging that the Tuohys lied about adopting him and tricked him into making them his conservators. Lewis claims that despite the film's success, none of the real-life figures involved received much money from it. He also reveals that Oher distanced himself from the family and refused to accept royalty checks. Attorneys for the Tuohys deny Oher's claims and state that he has been estranged from the family for the past decade.

via Entertainment Tonight|
#conservatorship-lawsuit#entertainment#hollywood-accounting
entertainment2 years ago

Disney Faces Lawsuit Over Withholding Avatar Profits in "Chilling" Accounting Scandal

TSG Entertainment Finance, a financier behind Avatar 2, has filed a lawsuit against Disney, accusing the company of engaging in "chilling" Hollywood accounting practices and withholding profits. TSG alleges it is owed over $40 million following an independent audit of three movies, including The Shape of Water. The lawsuit claims that Disney and its former Fox studio used various tactics to manipulate distribution and cut deals to benefit its streaming platforms and stock price. This comes after other recent lawsuits against Disney, including Scarlett Johansson's suit over Black Widow's release and the Bones team suing Fox. TSG's attorney argues that Disney has a history of Hollywood accounting and is attempting to deprive TSG of hundreds of millions of dollars. Disney has not yet commented on the lawsuit.

via Dexerto|
#avatar-2#disney#entertainment
business2 years ago

Disney Faces Lawsuit Alleging Financial Manipulation and Withholding of Funds from Film Financier

TSG Entertainment, a major financier of Fox films, has filed a lawsuit against Disney, accusing the company of using Hollywood accounting tactics to cheat it out of hundreds of millions of dollars. TSG alleges that Disney engaged in "self-dealing" by diverting Fox films from a lucrative HBO license to its own streaming platforms, Disney+ and Hulu. The lawsuit also claims that Fox entered into "sweetheart" deals when licensing films to the FX cable channel. TSG further alleges that Disney sought to boost its stock price and executive pay packages at TSG's expense. This lawsuit echoes similar claims made by Scarlett Johansson against Disney over the release of "Black Widow."

via Variety|
#business#disney#hollywood-accounting
entertainment2 years ago

Disney Faces Accusations of Withholding Massive Sum from 'Avatar' Sequel Backer

TSG Entertainment, a financer for Hollywood films, has filed a lawsuit against Disney and its studio 20th Century Fox, accusing them of breaching their contract by withholding profits and engaging in accounting tricks. TSG alleges that it has been underpaid by at least $40 million and deprived of hundreds of millions of dollars. The lawsuit also claims that Disney's recent deal with Warner Bros. Discovery directly impacted TSG's potential profits. TSG had co-financed numerous films, including "Avatar: The Way of Water," and invested around $3.3 billion in 20th Century Fox's content since 2012.

via CNBC|
#breach-of-contract#disney#entertainment
entertainment2 years ago

Disney Faces Lawsuit Alleging Hollywood Accounting Tricks and Profit Withholding

Film financier TSG has filed a lawsuit against Disney, accusing the media giant of using "Hollywood accounting" tactics to withhold hundreds of millions in profit. TSG, which has invested $3.3 billion in backing 140 projects at Fox, claims that Disney made moves to benefit its streaming platforms at the expense of finance partners. The lawsuit highlights a major shift in the release window for 20th Century Studios films, which resulted in lost proceeds for TSG. The complaint also alleges that the lack of cash flow impaired TSG's ability to invest in successful films like Avatar: The Way of Water.

via Deadline|
#disney#entertainment#film-finance