DreamWorks Animation said Tuesday night that it is pushing back the release date for its animated movie "Mr. Peabody & Sherman" by four months. The Glendale studio said it was changing the release date for the film from Nov. 1 to March 7, 2014, at the recommendation of its distributor, Twentieth Century Fox. As a result of the decision, "Me & My Shadow," which had previously been scheduled for release in March 2014, will go back into development. "Our distributor, who has had great success in March with their 'Ice Age' franchise, has recommended we move 'Mr. Peabody & Sherman' to the spring of 2014, which we totally agree is a much more advantageous release window," said Anne Globe, chief marketing officer of DreamWorks Animation, said in a statement.
The company's feature film slate for 2013 and 2014 is now as follows: "The Croods" on March 22; "Turbo" on July 19; "Mr. Peabody & Sherman" on March 7, 2014; "How To Train Your Dragon 2" on June 20, 2014; and "Happy Smekday!" on Nov. 26, 2014.
"We believe the best strategy for DreamWorks Animation in the long run is to ensure that every one of our films has an optimal release date with the biggest opportunity to succeed at the box office," added DreamWorks Animation Chief Executive Jeffrey Katzenberg. "The move of 'Mr. Peabody & Sherman' means that we will now release two films in 2013, and we are adjusting our operating infrastructure costs accordingly." Katzenberg did not specify what the cost cutting would entail but the decision is expected to result in layoffs at the studio, which employs more than 2,000 people. DreamWorks Animation is expected to take a substantial write-off on its previous animated movie "Rise of the Guardians," which fared poorly at the domestic box office after its release last Thanksgiving. ALSO: