Johnny Depp plays Tonto in "
The company made the announcement during its Q3 earnings call.
"The Lone Ranger" cost the studio an estimated $215+ million with additional money for marketing and faced multiple delays from the studio including a cancellation scare back in 2011.
The film, starring Johnny Depp and Armie Hammer, debuted to a weak $29 million three-day opening weekend — less than that of last year's "John Carter" ($30.2 million).
Analysts originally estimated the film to bring in near $60-$70 million upon its box-office debut.
Currently, the film has earned $175.6 million worldwide. The film has failed to break $100 million domestically.
After its last blockbuster bomb, "John Carter," Disney originally predicted near a $200 million write off on the film.
In Q2 2012, Disney's operating income saw a loss of $84 million in part to "John Carter."