The group has helped co-finance around 140 films produced by 20th Century Fox, which Disney acquired in 2019, including “Avatar: The Way of Water.”
Audiences would also recognize TSG from the opening credits of films like “The Menu,” “Jojo Rabbit,” “The Greatest Showman” and “Gone Girl.” The financier’s logo is a depiction of a man with a bow shooting an arrow through several axe heads.
Noticing a decline in profits, TSG requested an audit of a sampling of three of the films it financed for 20th Century Fox. TSG alleges that it found “rampant self-dealing” and “accounting tricks” within the books and had been underpaid by at least $40 million. “At its root, it is a chilling example of how two Hollywood behemoths with a long and shameful history of Hollywood Accounting, Defendants Fox and Disney, have tried to use nearly every trick in the Hollywood Accounting playbook to deprive Plaintiff TSG — the financier who, in good faith, invested more than $3.3 billion with them — out of hundreds of millions of dollars,” the suit says.
In one alleged incident, TSG said Fox licensed “The Shape of Water,” which won best picture at the 2018 Academy Awards, to FX, a channel owned by the studio, for $4 million less than it should have under its output agreement. Additionally, TSG said through its audit that it found it had not been credited with revenue it should have received and was charged millions of dollars for distribution fees that weren’t part of its revenue-participation agreement with the studio.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Cancel Disney Plus' Online Searches Spike After Disney Hikes Prices by More Than 25 PercentOnline searches of the phrase “cancel Disney Plus” have reportedly spiked after Disney announced it will hike prices for the streaming entertainment service by more than 25 percent.
Read more »
Live Forex ChartsCustomize Charts with Interbank rates from 140 liquidity providers, low latency, real-time and historical data for more than 1000 assets (FX, Commodities & Indices)
Read more »
Disney's future, a hot topic among Hollywood eliteHollywood's favorite parlor game of the week: What will Bob Iger do next?
Read more »
Walt Disney’s Century: Mickey’s Christmas CarolThe Walt Disney Company turns 100 this year, so each month IllusiveKen is looking back at its landmark films to better understand the Mouse House - and the film industry it's helped define. This month: Mickey’s Christmas Carol
Read more »
DeSantis urges Bob Iger to drop Disney lawsuit, accept the end of 'special privileges'DeSantis has invoked his battle with Disney on the campaign trail as he runs against Donald Trump for the 2024 Republican presidential nomination.
Read more »