Universal, Fox drop Halo movie

October 20th, 2006, 16:56 Posted By: wraggster

Production stalls as filmmakers fail to "significantly reduce their deals". Microsoft already in talks with other distribution partners

According to a report in Variety, Universal Pictures and 20th Century Fox have backed out of co-financing the Halo movie. Peter Jackson is still on board as exec producer though.

Apparently the filmmakers pulled out after Universal and Fox unsuccessfully tried to get the filmmakers and Microsoft to reduce their cut of the profits.

Universal and Fox made the pay cut demand with a deadline of October 15, which was also the same day MS stood to bag almost $5 million upfront as well as nabbing 10 percent of the gross for rights to the game and a script by Alex Garland.

"The only budget the filmmakers ever spoke about was $145 million, less the 12.5 percent rebate that you get from shooting in New Zealand, which would put it at about $128 million," said Ken Kamins, spokesman for the movie's executive producers Peter Jackson and Fran Walsh.

He continued, "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, respectfully declined."

Microsoft isn't hanging around though. It's already in talks with other distribution partners as early work on the film continues.

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