![]() ![]() ![]() Hollywood accounting has been used recklessly on many iconic films, like Return of the Jedi, which never went into profit despite earning $475 million at the box office against a budget of $32.5 million. Groom received only $350,000 for the rights and an additional $250,000 from the studio, losing out on several million before taking Paramount to court and was awarded a seven-figure settlement. However, Paramount pulled the wool over his eyes with what would come to be known as “Hollywood accounting,” whereby the film’s expenditures were inflated so much to eliminate the reported profit of the project and subsequently absolve the production company of profit-sharing responsibilities. ![]() Groom was offered $350,000 for the screenplay rights to his novel plus 3 percent of the net profit of the movie, not a bad deal for what would ultimately become the fourth-highest grossing film in history at the time and a final box office haul of $683 million. Winston Groom, the American novelist and author of "Forrest Gump," has died ![]()
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