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Show Alig The Salt Lake Tribune NATION Thursday, May25, 1995 ‘Forrest Gump’ Author Finds That Life Is Not a Box of Profits LOS ANGELES TIMES HOLLYWOOD — “Forrest Gump,” the Academy Award-winning movie starring Tom Hanksas a simple man who believed the bestin people, has sold a staggering $661 million worth oftickets worldwide — the fourth-highest grossing global releaseof all time. So it was understandable that eyebrows would be raised when a confidential accounting of the movie by ParamountPictures recently surfaced showingit had not made a profit as of Dec. 31 — even though bythatdate thefilm had rakedin more than $350 million at the boxoffice domestically andoverseas. Indeed, Paramount's financial statement revealed that “Gump” was actually $62 million in the red. Now, Winston Groom, the Alabama journalist-turned-author whose novel was the basis of the film, has hired a prominentattorney to seek answersfrom the studio. Under his deal, Groom was paid up-front for the rights to his book and is to receive 3 percent of anynet profits on thefilm. “We're meeting with Paramount very soon,” said attorney Pierce O'Donnell, who won a key court victory against Paramount on behalf of syndicated newspaper columnist Art Buchwald over the 1988 film “Coming to America. “Groom would like to work this out amicably,” O'Donnell said. “He believes strongly that this is an unfair method of accounting.” Indeed, for some industry observers, the “Gump” accounting raises the question, can a big mov- d Time Offer ie ever make a net profit using Hollywood accounting practices? Paramount executives declined to comment. But sources at the studio say they are stunned by Groom's actions — and the suggestion that the studio is playing tricks with its accounting of “Gump” or has been unfair to net- profit participants. The sources say that even though thefilm has yet to show a net profit, studio executives believe it eventually will. Paramountalready has paid out about $3 million to those who have netprofit positions on the movie — and Paramount even has offered a $250,000 check to Groom as a 8 Attorney O’Donnell said the payment “would be a way of buying him off and making him go away.” He said the amount was ago}ics=1-1(0)8) [Installation Included. Free rejected feime “he thought it wastoo light.” O'Donnell said Groom happens to know Buchwald, and the two writers have been comparing notes about Paramount's accounting practices — even though Buchwald’s case occurred during a prior regime, long before Viacom Inc. acquired the studio. In Buchwald’s trial, which involved a breach-of-contract alle- him,” Buchwald said, adding that in Hollywood, net profits mean nothing. But while Groom is pondering whereall the moneyis going, other net-profit participants are defending Paramount. Steve Tisch, who co-produced the film, and Erie Roth, who wrote the screenplay, confirmed that Paramount has advanced gation, a judge held that Paramount’s net profit formula was “unconscionable.” Paramount has appealed theverdict. At the time, O'Donnell said, Buchwald’s side had been informed by Paramount that even though “Coming to America” had grossed $160 million, it was unlikely to show a net profit. “Paramount, if they had any brains at all, would settle with them moneyagainst future prof- its —a clearsign the studio eventually expects to turn a profit on the movie. GOING OUT OF Pasae BUSINESS permanent In a shocking turn of events the entire inventory must be liquidated immediately. Not someitems,but every item in Paiace Oriental Rugsis subjectto immediateliquidation. Hugeinventory of quality Persian and Oriental rugs, new and antique, wool andsilk offered at a fraction of their original prices. 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