The Walt Disney Co named Alan Horn chairman of The Walt Disney Studios, replacing Rich Ross, who left the studio in late April following the poor performance of sci-fi adventure film "John Carter."
Continue Reading Below
Horn resigned last year as president of Warner Brothers Entertainment, owned by rival Time Warner Inc, where he had oversight of its movie and home entertainment operation.
Disney's studio lost $84 million in its most recent quarter as a result of having to take a $200 million write-down for "John Carter," one of the biggest box office busts in movie history.
Two months after the failure of "John Carter," Disney released "The Avengers," which ranks as one of the biggest hits in box office history, so far grossing $1.3 billion in worldwide sales. It currently ranks as the fourth highest-grossing film ever, according to Box Office Mojo.