Winston Groom, your legacy will quite literally live on forever by way of TBS 365 days a year. Forrest Gump is back The lovable man for all ages, who captured Americas heart in the 1 best-selling novel Forrest Gump and in the blockbuster film, returns in the long-awaited sequel to the book hailed by Larry King as 'the funniest novel I have ever read. Rather than conceding to have its accounting books examined, Paramount settled for $900,0’s Coming to America after claiming it failed to make a profit on a film that grossed $288 million and had a budget that was a tenth of that.Ĭreators like Steven Spielberg (worth $3.7 billion) and Tyler Perry (newly-minted billionaire) know better, skimming off every ticket sold as a way to safeguard against the snaked. 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. He is best known for his novel Forrest Gump (1986), which became a cultural phenomenon after being adapted as a 1994 film of the same name, starring Tom Hanks. 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. (Ma September 17, 2020) was an American novelist and non-fiction writer. Winston Groom, the American novelist and author of 'Forrest Gump,' has died

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