HARRY POTTER FILM 'LOSES $165 MILLION'

HARRY POTTER FILM 'LOSES $165 MILLION'

HARRY POTTER AND THE ORDER OF THE PHOENIX has reportedly lost $165 million (£110 million), despite its popularity at the box office.
The 2007 wizard movie is the ninth highest grossing film of all time in the global chart, taking $929 million (£619 million).
But a net profit statement leaked online by industry blog Deadline suggests movie bosses at Warner Brothers still need to recoup $165 million (£110 million) of the film's budget.
The document also implies executives incurred $57 million (£38 million) of interest payments on loans they took out to bankroll the movie.
A source tells Britain's Daily Star, "If these figures are true, then Warner Brothers have turned this practice into a whole new ball game. If one of the most successful movie franchises in history cannot officially make money, what can?" (KD/WNTST&WNWCGG/ZN)