LOS ANGELES (CBS) — The Walt Disney Co. pulled the plug Friday on “The Lone Ranger” starring Johnny Depp and Armie Hammer.

Work on the movie was reportedly halted due to high costs and a budget of $250 million.

Studio executives hoped the budget could be reduced to about $200 million.

The director, Gore Verbinski, also clashed with Disney over costs associated with “Pirates of the Caribbean: At World’s End.”

Disney Chief Executive Bob Iger signaled in an earnings call this week that the studio would pay closer attention to movie budgets.

“It’s our intention to take a very careful look at what films cost,” Iger said Tuesday. “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.”

  1. Donna says:

    I just don’t think that’s truly all of the story. I would like to know what Johnny Depp side of the story is ? I’ll believe Johnny story 100% than the Disney Chief Executive Bob Iger.

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