Warner Bros. may lose $120 million

Aug. 18, 2006 at 4:04 PM

LOS ANGELES, Aug. 18 (UPI) -- Warner Bros. had its most profitable year ever in 2005 but this year the California studio could lose more than $120 million due to film flops.

"Poseidon," M. Night Shyamalan's "Lady in the Water," computer-animated "The Ant Bully" and the urban drama "ATL" are the films that could cause Warner to lose more than $120 million, The Los Angeles Times reported Friday.

"The price of failure is high," Warner President Alan Horn told the Times. "It's not just the financial cost. It's reading about it in the newspaper."

In 18 of the last 20 years, Warner has ranked among Hollywood's top three distributors in box-office revenue.

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