Time Warner couldn’t horse around with the figures it had to disclose in its Q1 earnings release this morning: HBO took a $35M impairment charge for its ill-fated series Luck, about race-track gamblers and starring Dustin Hoffman, which was cancelled in March — midway into production for its second season. The show generated so-so ratings, but execs put the series to sleep following an uproar over news that a third horse had died in the production. Naysayers included People for the Ethical Treatment of Animals, which said that “old, unfit, and drugged horses were forced to race for this series.” The producers said that they “maintained the highest safety standards throughout production, higher in fact than any protocols existing in horseracing anywhere with many fewer incidents than occur in racing or than befall horses normally in barns at night or pastures.”