05/02/2012 02:04 pm ET

'Luck' Cancellation Cost HBO $35 Million

Even in cancellation, "Luck" cost HBO a lot. According to Vulture, HBO lost $35 million by canceling the Dustin Hoffman horse racing drama. Time Warner revealed the number in their quarterly earnings report.

"Luck" was canceled in March, three months after renewing the low-rated series starring Hoffman, Nick Nolte and Dennis Farina. The series premiered to more than a million viewers, but audiences soon fled with the last episode reaching about 440,000 viewers.

During production of Season 1, "Luck" faced controversy after three horses died.

“The two of us loved this series, loved the cast, crew and writers," Michael Mann and David Milch, "Luck" executive producers, said in a statement. "This has been a tremendous collaboration and one that we plan to continue in the future."

TheWrap reports most of the $35 million cost came from shutting down production since Season 2 had already begun shooting. The show was originally picked up for a second season in January only a few days after the series premiered.