UPDATE: Johnny Depp is in Europe right now, but really wanted to make The Lone Ranger. According to one insider, “Let’s see how it all shakes out on Monday. There’s always a chance that it could go. You never know until you know.” The deeper story behind this production stoppage is about how movies are costing too much, studios are giving major pushback, and today’s backdrop of a crazy economy. Everyone involved is still intent on the project and still in discussions to see what can be done. But the studio’s concern is spending over $200M on a Western, even with Gore Verbinski and Johnny Depp and a comedic slant. So clearly Disney took drastic action. Now the studio and filmmakers are trying to figure out the next step, either to shop it elsewhere or put it back together at a later date at a lower budget.
EXCLUSIVE: In a stunning development, Disney has shut down production on The Lone Ranger, the Gore Verbinski-directed period Western that was to star Johnny Depp as Tonto and Armie Hammer as the title character. Jerry Bruckheimer is the producer and the script is by Justin Haythe. I’m told this all just happened, and Disney pulled the plug because of the budget. I’ve heard the filmmakers were trying to reduce the film’s cost from $250 million (some even say $275 million) down to $232 million. But it wasn’t the $200 million that Disney wanted to spend. And between Depp, Bruckheimer, and Verbinski, the gross outlay on the film is substantial.
When the plug was pulled, the film was still casting up, with Ruth Wilson, the serial killer from the BBC’s Luther series, set for the female lead. And The Lone Ranger was scheduled to be released Dec. 21, 2012, smack up against The Hobbit: An Unexpected Journey, which opens Dec. 14, and the Brad Pitt-starrer World War Z, which was just slated for Dec. 21. This becomes the second major Western-themed project to bite the dust, after Universal halted a mammoth adaptation of Stephen King’s The Dark Tower. And is it coincidence that The Lone Ranger halted right after another Western, Cowboys & Aliens, proved a pricey disappointment for DreamWorks and Universal?