Paramount Bumps 'G.I. Joe: Retaliation' to 2013
Paramount is moving G.I Joe: Retaliation from June 29 to next year, setting a date of March 29, 2013. At the same time, it’s converting the movie to 3D.
Paramount sources say that for the studio to recoup its sizable investment -- it financed 50 percent of the sequel, while MGM put up 25 percent and David Ellison’s Skydance Productions is backing 25 percent -- a 3D conversion needs to happen, and it wants to make sure the conversion is done right. The studio is pointing to the recent 3D version of James Cameron’s Titanic as a success story.
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Still, the movie is based on a Hasbro toy line, and some might blame the shift on the disappointing box office of Universal's Battleship, the adaptation of the Hasbro board game that opened to just $25.5 million domestic last weekend. Paramount's first installment of the franchise, G.I. Joe: The Rise of Cobra, grossed $300 million worldwide in 2009. But the high cost of studio tentpole movies now requires big-budget releases to gross more than that.
“[Battleship] reminds you that if you don’t do it right, you’re screwed,” says one insider.
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It's very unusual for studios to change release dates less than five weeks before the film is due in theaters, but this isn’t the first time Paramount has made such a high-profile switcheroo. It bumped Shutter Island, the Martin Scorsese-Leonard DiCaprio thriller, into a winter slot. The movie then turned into Scorsese’s biggest box-office hit.
G.I. Joe: Retaliation cost at least $125 million and features a cast that includes Dwayne Johnson, Bruce Willis, Adrianne Palicki and Jonathan Price. It is directed by John Chu.
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