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Disney sued by partner for allegedly scamming them out of millions.

LOS ⁤ANGELES, CALIFORNIA – NOVEMBER 18: Disney Executive Chairman Bob‍ Iger ​attends the Exclusive 100-Minute Sneak Peek of Peter Jackson’s The Beatles: ⁤Get Back at El Capitan ⁣Theatre on November 18, 2021 in ⁤Hollywood, California. ⁢(Photo⁤ by‌ Charley Gallay/Getty ‍Images for Disney)

OAN’s James Meyers
1:45 PM – Wednesday, August 16, 2023

Hollywood ‍film⁣ financier ⁤TSG is now suing the Disney company for allegedly cheating ⁤them out of millions of dollars.

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A suit was filed by the ⁤Avatar sequel ‌financier at a⁢ Los Angeles Superior court on Tuesday.​ The lawsuit alleged that Disney withheld‍ profits and cut deals to help boost its streaming platforms and stock ⁣price.

As a ​result, TSG was withheld‍ from ‌investing money into individual films⁣ and could not sell‌ its stakes in other movies, according to the lawsuit.

The ‌group has been involved in helping ⁣finance around 140 films ​produced by 20th Century ⁣Fox,​ which Disney acquired in 2019.‍ TSG⁢ claimed since 2012 ‍that they have invested $3.3 billion into various projects.

After noticing a decline in profits, TSG requested an audit of a sampling ​from three films that they financed​ for 20th Century Fox.

The finance partner claimed after‌ finding various “accounting tricks” they were underpaid ‌by Disney ⁣by over $40⁢ million.

“At its root, it is‌ a chilling example of‌ how ‍two Hollywood behemoths with a‍ long and shameful ⁢history of ‍Hollywood Accounting, Defendants ⁣Fox and Disney, have tried to use nearly every⁣ trick in the Hollywood Accounting playbook⁣ to deprive plaintiff TSG.”

Furthermore, the lawsuit claimed Disney’s 2021 deal⁢ with ⁢Warner Bros. Discovery ⁤directly cut into ⁢TSG’s potential profits.

Moreover, when the finance group used its⁣ rights to sell its stake in multiple films over the ‍years, the⁢ notion ‌was ‍denied. TSG also ⁣stated that they were not able to invest in​ the recent movie‍ sequel Avatar: The Way of Water, which made ⁤over $2 billion at‍ the box ⁢office.

Robert Iger​ took over for a second time as⁤ CEO of Disney in November 2022, after Bob Chapek’s tenure ‍resulted in the company‌ losing millions in profits.

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