Paramount Delays ‘G.I. Joe’ Sequel for 3-D Conversion

(Corrects to remove “Battleship” 3-D reference in fifth paragraph of story published yesterday.)

Viacom Inc. (VIAB)’s Paramount Pictures delayed the release of its summer action-adventure film “G.I. Joe: Retaliation” by nine months to convert the sequel to 3-D.

The film, originally scheduled for June 29, will reach theaters on March 29, 2013, the studio and partner Hasbro Inc. (HAS), owner of the G.I. Joe toy line, said today in a statement.

Showing the film in 3-D will enable the filmmakers to tap into global demand for big-budget action films shown in the format, according to the statement. Cinema operators typically charge about $3 per 3-D ticket in the U.S.

“G.I. Joe: The Rise of Cobra,” released in 2009, cost about $175 million to make and took in $302.5 million in worldwide ticket sales, according to researcher Box Office Mojo. The new film, about a special military force that takes on the toughest missions, stars Dwayne Johnson, Channing Tatum and Bruce Willis.

The schedule change comes less than a week after “Battleship,” based on the Hasbro board game, opened with $25.5 million in ticket sales, missing the $38.7 million forecast of Box Office Mojo. “Battleship” may lose as much as $150 million for Comcast Corp. (CMCSA)’s Universal Pictures, Wunderlich Securities analyst Matthew Harrigan said in an e-mail on May 20.

Other Hasbro properties being developed as movies include Risk, Ouija board and Clue, according to researcher Imdb.com.

Hasbro rose less than 1 percent to $34.65 at the close in New York trading and has gained 8.7 percent this year. Viacom also rose less than 1 percent to $47.21. It has increased 4 percent.

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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