Is Walden in Trouble?
Latest film already a box-office bust as studio behind the Narnia movies faces tough times ahead. But parent company Fox insists Walden's doing just fine.
By Peter T. Chattaway | posted 10/14/2006
 1 of 2
With its latest film, City of Ember, failing to break the top 10 in its first weekend of release, Walden Media's viability as a film studio is in question.
Ember, released by Fox Walden on a $38 million production budget, opened on 2,022 screens but only earned $3.1 million to finish 11th—just behind Fireproof, a film made by amateurs for only $500,000 but has earned almost $17 million in three weeks of release.
Worse for Ember, it earned just $1,500 per screen, placing it near the bottom of 125 wide releases this year, prompting Movie City News editor David Poland to call it "an unmitigated distribution car wreck" and predict the "inevitable" end of Fox Walden as a production company.
"The crew at Fox Walden seemed to be working without an ad budget and with a lot of energy … that didn't take," wrote Poland. "And … Jeffrey Godsick's return to Fox just days ago tells us that they knew exactly what was about to happen, that Jeffrey was taken back onto the mother ship as the studio surely agreed to do if things didn't work out, and that the end of Fox Walden as a production entity is unannounced but inevitable."
Variety
recently reported that Fox has "absorbed" its Walden division.
"After launching two years ago to much fanfare," read the Variety story, "the Fox Walden marketing venture is being shuttered as a stand-alone company and will be re-absorbed as an inhouse unit of 20th Century Fox's marketing division.
"As part of the restructuring, about a dozen Fox Walden staffers will be laid off."
But David Weil, CEO of Anschutz Film Group (parent of Walden Media), says the Walden brand isn't going anywhere.
"Fox Walden has been a tremendous asset for our company and Fox has been an outstanding partner," Weil said in a Fox press release. "Moving marketing functions to inside the main Fox marketing machine—the best in the business—makes both creative and financial sense. We're very happy that it will continue to exist within Fox under Jeffrey's leadership and we intend to continue to provide 3-5 films a year."
Hit-and-miss at the box office
Walden was created seven years ago to make movies based on classic children's books, among other things. But of the 20 films they have produced so far, only six have grossed over $50 million: Holes (2003), Bridge to Terabithia (2007), Charlotte's Web (2006), Journey to the Center of the Earth (2008) and the two Chronicles of Narnia movies (2005-2008).
The rest have been either modest successes at best, given the low budgets that some of them had, or outright flops at worst—and it appears that Ember is headed for "flop" status.
Two years ago, Walden joined forces with Fox to become one of that studio's several boutique labels, and around this time last year, Variety magazine even ran an article announcing that Fox Walden was ready to challenge Disney for a share of the family-movie audience—a challenge that didn't turn out so well for Walden in the months that followed.
The recent Variety story stated, "Though Fox and Walden had high hopes for the joint venture when it was created in August 2006 to market family films produced by the two companies, there weren't enough pics to warrant a stand-alone marketing entity. In the ensuing two years, only three movies have been released under the logo: Nim's Island, Mr. Magorium's Wonder Emporium and The Seeker. Though City of Ember will unspool next week as part of the partnership, there are no films planned for release in 2009."
Browse More Movies
CT Movies Home Page | Now Showing | New on Video | All Reviews
Coming Soon | Discussion Guides | Interviews | Commentary
News & Misc. | Special Sections | About Us
Your Feedback | About Us | CT Mag Home Page
| |
|
