Skydance Opens Warner Bros.' Books, “Shocked” to Find ‘Digger' Set to Lose $250M+ — Far Worse Than Reported

This TheWrap report is going to make some waves, and it will no doubt have a ripple effect on an industry that was already allergic to risk.

via: Dark Horizon

With Skydance having now taken over at Warner Bros. Discovery, they’re opening up the books and seemingly not liking what they find.

The Wrap reports that the Tom Cruise-led “Digger” is set to lose the studio more money than previously indicated – potentially a massive $250 million.

That number isn’t just the biggest loss for the year or Cruise, it’s one of the largest losses for a film in years, if not ever – up in the kind of loss of “The Marvels,” “John Carter,” “Strange World,” “The Lone Ranger” and “Mortal Engines”.

It’s almost double previous reports, which had the losses at around $125-150 million, and is still factoring in post-theatrical revenue streams.

The film debuted to just $21 million worldwide last weekend and insiders at Skydance are now estimating the film won’t clear the $40 million mark worldwide.

Insiders for the film claim the budget of the movie was $163-173 million, though an unexpected insurance settlement played a part in that, with about $100 million spent on marketing.

Warner Bros. Pictures also fully financed the film, unlike other projects that often have financial partners.