Ironworks Gaming Forum - Studios back out of Halo movie

Quote:

Studios back out of Halo movie
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A movie adaptation of the highly popular Xbox game Halo has been delayed indefinitely after negotiations over money fell through.
Universal and Fox had agreed to co-finance the screen version of the top-selling game, but have now abruptly backed out, says Variety. While rumours had the studios concerned over a budget that was rising above the original projected $135 million, the filmmakers said the double defection came after Universal and Fox played hardball and unsuccessfully tried to get the filmmakers and Microsoft to reduce their profit participation.
The studios made the pay cut demand as an October 15 deadline approached. On that day Microsoft was to have received the bulk of a promised $5 million upfront payday. The software giant also stood to receive 10 per cent of gross for rights to the game and a script by Alex Garland.
Rumours of a budget that could approach $200 million raged Thursday, but Ken Kamins, who represents Peter Jackson and Fran Walsh, vehemently denied that figure. The duo came aboard as exec producers, joining powerhouse producers Mary Parent, Scott Stuber and Peter Schlessel.
"The only budget the filmmakers every spoke about was $145 million less the 12.5 per cent rebate that you get from shooting in New Zealand, which would put it at about $128 million," Kamins said. "That was the only number that was ever discussed.
"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 Bungee [the studio that designed the original game], respectfully declined."
Kamins says Microsoft is already in talks with alternative distribution partners and that preproduction work on Halo continues.
-With thanks to Clint

link:
http://www.blockbuster.com.au/Studio...Halo_movie.htm

gee.. I didnt even know they had a movie planning