Wednesday, May 23, 2012

G.I.Joe Retaliation Bumped to 2013

Here's the official statement from Hasbro:

Hasbro, Inc (NASDAQ:HAS), and Paramount Pictures, announced today that G.I. JOE: RETALIATION will now be released in 3D. The film, originally slated for release in June 2012, is scheduled to be released March 29, 2013.

"It is increasingly evident that 3D resonates with movie-goers globally and together with Paramount, we made the decision to bring fans an even more immersive entertainment experience," said Brian Goldner, Hasbro's President and CEO.

"In 2012, we continue to have several strong motion picture and television entertainment backed properties that are selling well at retail and our entertainment strategy remains strong and on-track," Goldner said. "Through our own Hasbro Studios for television and in partnership with several movie studios including Paramount, Universal, Sony and Relativity, we are creating entertainment experiences around many of our highly popular iconic brands. For the full year 2012, we continue to believe, absent the impact of foreign exchange, we will again grow revenues and earnings per share."

The funny thing is, the legal under this statement is longer than the statement itself! I'd post it but I'm afraid you'd burst a blood vessel whilst reading. No doubt, Hasbro is expecting some backlash from retailers already selling movie product and taking pre-orders on plenty of further product, all hinged on the release of a film that is now a year away. People have begun to speculate that the stall "due to a post 3D conversion" excuse really means "with a market already dominated by The Avengers and monsters like Prometheus, Dark Knight Rises and Amazing Spider-Man on the way...we chicken out" or to a greater degree "we are expecting unkind numbers back from Battleship's run, so we need to distance ourselves before we damage the Hasbro brand further on an un-sure thing." Either are probably true..or both. The facts remain..we'll have to wait til 2013 for the further adventures of Snake Eyes and company.

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