Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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

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

May 23 (Bloomberg) -- Viacom Inc.’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., 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.’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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.