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Halo Movie Loses Financing Studios - Does It Have Any Hope?

by Alex Billington
October 20, 2006

Variety reported today that Universal Pictures and 20th Century Fox, the two financing studios behind the hugely hyped Halo movie, have both backed out. The reports are apparently that the initial $135 million budget was being surpassed, and that "moneygrubbing" Universal and Fox could not get Microsoft to agree to a lower profit-sharing margin. Here are the details:

"The only budget the filmmakers every spoke about was $145 million less the 12.5% rebate that you get from shooting in New Zealand, which would put it at about $128 million," said Ken Kamins, who represents the pic's executive producers Peter Jackson and Fran Walsh. "That was the only number that was ever discussed.

"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 Bungee, respectfully declined."

The only reasoning I can see in this is if it becomes as ridiculous as a Uwe Boll video game adaptation or something as awful as the Doom movie. And if that happens, then no matter that it boasts one of the most recognized video game names ever, it still won't get people out to see it. Let's hope for the best. Maybe some other smart studio will realize the potential and capabilities of its success (even working with a powerhouse such as Microsoft). Halo had previously announced a director (thanks to ComingSoon.net) a month or so back - newcomer Neill Blomkamp.

Does this Halo movie have any hope? Even with Peter Jackson backing it and beyond? Will Master Chief survive?!

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