Ryan Nakashima at Associated Press has an article titled "Hollywood cutting back on big budget movies" in which he references the Dark Tower movie cancellation.
In July, two major projects were stopped mid-stream because of budget pressures. The Walt Disney Co. halted "The Lone Ranger," starring Johnny Depp, even though sets were already half-built in New Mexico. Universal pulled out of "The Dark Tower," a three-movie, two-TV-series colossus based on books by Stephen King.
A person familiar with Disney's thinking said the budget on "The Lone Ranger" was creeping north of $250 million, and the company wanted to shave it to around $200 million.
Universal, which became a unit of cable TV provider Comcast Corp. this year, withdrew from "The Dark Tower" because of problems with the business model, according to another person, who is familiar with that matter.
Nakashima goes on to explain why big budget films aren't being produced anymore. A hint. . . it has to do with DVD sales and the "DVD boom." Did you know there was a DVD boom? I didn't!
He also offers this note on the Dark Tower,
The producers of The Dark Tower are faced with raising money and finding another studio to distribute the series. Producer Ron Howard said in a statement sent to The Associated Press, "we are continuing to be actively working on the project." Howard and his co-producer Brian Grazer face a tough fight. Not only did they produce the money-losing "Cowboys & Aliens," but Hollywood's love of sequels tends to fade quickly if the first installment fails to perform.
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