Halo Movie now Postponed!

A few weeks ago I wrote up a store that both Fox and Universal who were co-financing the film had backed out. They were worried about the increasing budget which was now beyond $200 million dollars. Fox and Universal wanted Peter Jackson and Microsoft to take less of the collective pie to help compensate for the increased production costs but they weren't having any of it. So both Fox and Universal pulled out of the project leaving the movie without any financial backing. For the complete story you can look it up here.

The following press release was given by Wingnut Films regarding the future of the Halo movie (quote from TeamXbox.com and xboxic.com)

"As was previously confirmed, we deeply regret that both Universal and Fox did not choose to move forward with financing the Halo film under the original terms of the agreement. At this time Peter Jackson and Fran Walsh, along with their partner, Microsoft, have mutually agreed to postpone making a feature film based on the Halo video game universe until we can fulfill the promise we made to millions of Halo fans throughout the world that we would settle for no less than bringing a first class film to the big screen. We are fully supportive of Director Neill Blomkamp’s vision of the film. Neill is a tremendously gifted filmmaker and his preliminary work on Halo is truly awe-inspiring. While it will undoubtedly take a little longer for Halo to reach the big screen, we are confident that the final feature film will be well worth the wait. "