🧵 1. Disney faces lawsuit from Hollywood financer TSG Entertainment over allegations of withholding profits and breaching contract. #cinema
🧵 1. Disney faces lawsuit from Hollywood financer TSG Entertainment over allegations of withholding profits and breaching contract. #cinema
🧵 2. TSG Entertainment claims Disney and 20th Century Fox used accounting tricks and deals to boost streaming and stock price, depriving TSG of hundreds of millions.
🧵 3. TSG, known for co-financing films like "Avatar," "Jojo Rabbit," and "Gone Girl," alleges being underpaid by at least $40 million and finding self-dealing within the books.
🧵 4. Allegations include underpayment and failure to credit revenue. TSG says it invested $3.3 billion with Disney and Fox but was deprived of its fair share of profits.
🧵 5. TSG reveals incident where Fox licensed "The Shape of Water" for less than agreed, jeopardizing revenue. Audit also uncovered improper distribution fees charged to TSG's account.
🧵 Read more at: https://www.cnbc.com/2023/08/15/disney-accused-of-withholding-profits-from-tsg-entertainment.html