Will Smith suffered a severe financial blow following the slap to Chris Rock

by time news

The Slap – and the Economic Damage: The production of the planned biography of Will Smith went into crisis following the incident that occurred during the last Oscar ceremony during which he slammed the cheek of comedian Chris Rock.

The Sun magazine reported that Netflix and Apple + have withdrawn from the race to produce the film that was supposed to be based on the actor’s successful autobiography. The two streaming giants, who reportedly competed head-to-head with the rights to the biography photo, decided not to take part in the project.

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A source told The Sun: “Netflix and Apple + have quietly removed their offers for a biography of Will Smith and instead will transfer the funds and develop original ideas of new black actors.” He added that working with the actor has now become a “risky business” for investors, with his upcoming films being on hold following the scandal.

As you may recall, Smith starred in Rock after the latter joked about the baldness of his wife Jida Pinkett Smith who loses her hair in battles with alopecia areata – an autoimmune disease that causes baldness. On Tuesday, Smith announced his resignation from the Film Academy following the incident. “I’m resigning from the Academy of Arts and Film Sciences, and I will have all the additional consequences the council sees fit,” Smith said in a statement, adding that “change takes time and I am committed to doing the job to ensure I never let violence get around logic again.”

Smith’s announcement came two days after the academy announced it had opened disciplinary proceedings against him. David Robin, president of the Academy of Fine Arts and Sciences, said the organization accepted “Smith’s immediate resignation.”

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