Halo film in jeopardy?

The Halo movie hit a snag recently as both studios financing the project dropped out. Rumors are swirling that 20th Century Fox and Universal were freaked out over a rising $135 million budget.

Both Universal and Fox Studios have pulled out of the Halo movie adaptation, citing rising movie costs and concern over the inexperience of first time director Neil Blomkamp. As the budget was rumored to be edging closer to $200 million, and Microsoft getting a lion’s share of the profits, the studio execs decided it was time to pull the plug.

Peter Jackson and Fran Walsh’s rep, Ken Kamins, spoke to industry mag Variety and explained, “What happened was this: Universal, on behalf of both studios, asked for a meeting with the filmmakers just prior to the due date of a significant payment. Basically, they said that in order to move forward with the film, the filmmakers had to significantly reduce their deals. They waited until the last minute to have this conversation. Peter and Fran, after speaking with their producing partners and with Microsoft and Bungie (the studio that designed the original game), respectfully declined.”

So what does all this mean for the possibility of a Halo movie? The filmmakers and Microsoft seem undeterred. In fact, Kamins says that Microsoft is already in talks with other studios that may distribute the film based on the blockbuster gaming title. And with pre-production continuing at Jackson’s Weta Workshop, the studio financing problem could be a mere speed bump on the road to making the Halo movie a reality.

Source: Joystiq

Related Links: IGN, Bungie