WWE released the following press release yesterday that pretty much writes off the film as a loss for the company:
WWE Films Updates Expectations For Its Third Feature Film, ”The Condemned”
Tuesday June 19, 6:41 pm ET
STAMFORD, Conn.–(BUSINESS WIRE)–Following successful releases of “See No Evil” and “The Marine,” WWE Films, a wholly-owned subsidiary of World Wrestling Entertainment, Inc. (NYSE:WWE – News), announced today that it has re-evaluated expectations for its feature film, “The Condemned” and has recorded a related impairment charge of $15.7 million.
The charge, which will be included in the second quarter 2007 results, reflects the Company’s revised long-term financial projections for the film, based on the $7.4 million in domestic box office receipts to-date.
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