HBO's cancellation of the beleagured horseracing drama "Luck" cost the network $35 million, according to an earnings report released by Time Warner Wednesday.
Time Warner, which owns the premium cable provider, said it suffered the "impairment" because of the series' cancellation in its first season following the death of three horses. The $35 million included the costs of producing and promoting the show, which could not be recouped because of its early demise, said Time Warner spokesman Keith Cocozza.
Also read: Why HBO's 'Luck' Wasn't Fit to Run
"We shut down the show before we could make any money on what was spent," he told TheWrap.
The series, executive produced by David Milch and Michael Mann and starring Dustin Hoffman and Nick Nolte, debuted to high expectations. But it earned disappointing ratings and quickly became embroiled in questions about the horse deaths during filming. Its decision to cancel the show in March helped contain the scandal and protect a reputation that HBO has spent decades building.
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