Michael Moore, war profiteer

$21 million buys a lot of baseball hats and sweatpants, huh?

Fahrenheit 9/11, now an event, took in more than $228 million in ticket sales worldwide, a record for a documentary, and sold 3 million DVDs, which brought in another $30 million in royalties. After the theaters took their share of the movie’s gross (roughly 50 percent) and distributors deducted the marketing expenses (including prints, advertising, dubbing, and custom clearance) and took their own cut, the net receipts returned to Disney were $78 million.

Disney now had to pay Michael Moore’s profit participation. Under normal circumstances, documentaries rarely, if ever, make profits (especially if distributors charge the usual 33 percent fee). So, when Miramax made the deal for Fahrenheit 9/11, it allowed Moore a generous profit participation—which turned out to be 27 percent of the film’s net receipts. Disney, in honoring this deal, paid Moore a stunning $21 million. Moore never disclosed the amount of his profit participation. When asked about it, the proletarian Moore joked to reporters on a conference call, “I don’t read the contracts.”

What of Disney? After repaying itself $11 million for acquisition costs, it booked a $46 million net profit, which Eisner split between two subsidiaries, the Disney Foundation and Miramax. While it was far less than Disney made on children’s fare such as Finding Nemo, it was not a bad outcome. The Weinstein brothers also made a multimillion-dollar profit. They had a deal with Disney that contractually entitled them to a bonus of between 30 percent and 40 percent of the net profits on any film that they produced—in this case, that came out to about $8 million per brother. (The Weinsteins are now in the process of leaving Miramax.) But Michael Moore had perhaps the happiest ending of all. Not only had he made $21 million, he already had a sequel in preproduction—Fahrenheit 9/11 ½.

I defy anyone to find another person that made more money off the war in Iraq.  I mean an individual, not a company.  Moore made $21 mil for his pocket.  Name someone who made more than that.