After A Disappointing Third Quarter For FOX, Disney To Chop Most Of Their Films In Development

We all knew that Disney’s acquisition of Fox probably meant that their properties and employees would probably be on the chopping block once they were done deciding what do to with it all. Yes we are all excited for the X-Men and Fantastic Four properties joining the rest of Marvel Studios, but what about everything else?

This week during Disney’s quarterly earning call, via Variety, Disney CEO Bob Iger talked about all the changes coming to FOX for the time being. These decisions come after the studio posted a $170 million operating loss in Disney’s fiscal third quarter. Due to this, Disney will be axing the majority of the existing FOX film development slate and refocusing output. James Cameron’s sequels to Avatar will continue, as well as future Planet of the Apes films.

All of Fox’s superhero titles will in fact be move forward under the leadership of Kevin Feige. Also four big brands for Fox will be brought to Disney+ to adapt as straight to service content. These include the classic franchise Home Alone, Night at the Museum, Cheaper by the Dozen and The Diary of a Wimpy Kid.

Disney is blaming the bad quarter on the performance of Dark Phoenix, which flopped only grossing $65 million domestically on a $200 million budget. Other losses were attributed to the marketing costs of upcoming Fox titles like Ford v. Ferrari. To help Disney’s newest division, now ran by Emma Watts, Iger has called upon some of his top guys in Alan Horn and Alan Bergman to bring “discipline and creative standards”. To accomplish this they felt like they needed to toss most of the projects in development as they are headed “in a new direction, with an all new development slate that will focus on a select group of properties.”

Overall Fox’s film division will scale back on the number of releases. “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,” Iger said. It will be interesting to see how Disney will continue to work on their newest acquisition for the next few years as they paid a hefty price for it and need to see a return in the next few years, not that they are lacking funds or anything.

What do you think of Disney’s plans for Fox? Let us know in the comment section below!

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Source: Variety

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