Harry Potter suffers $165 mn losses

"Harry Potter and the Order of the Phoenix", the fifth instalment of the successful wizard franchise, has reportedly lost $165 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 but a net profit statement leaked online by industry blog Deadline suggests movie bosses at Warner Brothers still need to recoup $165 million of the film’s budget, reports dailystar.co.uk.

The document also implies executives incurred $57 million of interest payments on loans they took out to bankroll the movie.

"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?" said a source.(IANS)


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