The film, which was to star Johnny Depp, was to be a new take on the classic characters of "The Lone Ranger" series. Depp was to play Tonto.
Bob Iger, Disney's CEO, said "It's our intention to take a very careful look at what films cost. And if we can't get them to a level that we're comfortable with, we think that we're better off actually reducing the size of our slate than making films that are bigger and increasingly more risky."
Stories are surfacing that budget negotiations between Gore Verbinski and Disney aren't going well. Disney is said to be offering firm numbers that Verbinski isn't finding satisfactory.
Many think that due to the disappointing performance of "Cowboys and Aliens", that this genre of film could be a bigger risk than anticipated. Unless the film gets a budget overhaul, it will most likely never see the light of day.
