Who the F*CK is Running Disney?!
4,479Disney is in deep trouble. They've had to settle a case where they were accused of 'self-dealing' and 'Hollywood accounting.' And as they continue to bleed out cash movie after movie, pundits are wondering aloud if Dopey is actually running Disney...
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Additional Context:
Disney and its subsidiary 20th Century Studios recently settled a lawsuit with film financing partner TSG Entertainment. TSG had sued Disney, accusing them of "rampant self-dealing" and breach of their revenue participation contract. The lawsuit alleged that Disney/Fox used various tactics in "Hollywood accounting" to reduce TSG's share of defined gross receipts, which negatively impacted TSG's ability to generate liquidity for future productions.
The lawsuit also highlighted Disney's strategy of releasing films on Disney+ to grow subscriptions, which reduced theatrical revenue for TSG. These actions were characterized as part of a broader pattern of Hollywood accounting practices, including the use of "accounting tricks" and "self-dealing" to avoid paying financiers their due share of profits. The case was settled with both parties agreeing to a resolution, though the specific terms of the settlement were not disclosed.
The settlement of this lawsuit marks a significant resolution in the ongoing legal battles within the entertainment industry, particularly concerning financial agreements and revenue sharing. This case has shed light on the complexities of revenue participation contracts in film production and distribution.
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