Sony Takes $1 Billion Write-Down For Movie Division #movienews

Sony Pictures - Ghostbusters, Spider-Man, The Emoji Movie

In 2016, Walt Disney Pictures dominated the box office charts with a string of critically acclaimed blockbusters, but not every studio was so lucky. In an ultra competitive field, Sony struggled to make much of an impact. They had few successes over the course of the year, the most notable being The Angry Birds Movie, which grossed $349.7 million worldwide (on a $73 million production budget). A number of their would-be tentpoles had difficulties, most infamously Ghostbusters, which managed just $229.1 million globally on a whopping $144 million budget. Other films, such as The Magnificent Seven and Passengers, failed to break out in a meaningful way, leaving Sony in bad shape.

Earlier this month, it was ...

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