News Corp to net $350-400 million from "Avatar": report

Mon Mar 15, 2010 4:49am EDT
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(Reuters) - Rupert Murdoch's News Corp will earn $350 million to $400 million from James Cameron's blockbuster "Avatar," once the movie is released on pay television and DVD, Bloomberg said, citing two people with knowledge of the financial performance.

The amount represents News Corp's about 40 percent share of as much as $1 billion that the film is expected to earn for its Twentieth Century Fox and "Avatar" investors, the people told the agency.

News Corp's share amounts to almost half of its average quarterly operating profit in the past year, according to the agency.

Fox's "Avatar," which ended up with three Oscars, fell two places to No. 7 with $6.6 million in its 13th week. Its North American total rose to $730 million and its worldwide tally to $2.6 billion.

In February, News Corp had said 50 percent or more of the profit from the James Cameron-directed film would show up over the next two or more quarters.

News Corp could not be immediately reached for comment by Reuters.

(Reporting by Sakthi Prasad in Bangalore; Editing by Hans Peters)

<p>James Cameron and his wife Suzy Amis pose at the premiere of "Avatar" at the Mann's Grauman Chinese theatre in Hollywood, California December 16, 2009. REUTERS/Mario Anzuoni</p>