Los Angeles Times reported that Universal Pictures rejected acclaimed directors Steven Spielberg and Peter Jackson's requests to finance their new film, Tintin. The Belgian comic book-based movie has a whopping price tag of $130 million, an amount even topnotch studios are quite wary to shell out in an unstable economy. This rejection was a news maker particularly because high-profile directors do not usually get turned down under normal economic circumstances. This only highlights how the country's financial crisis has spilled beyond businesses in Wall Street. Universal Pictures executives are still studying whether Tintin would be profitable in the current market, especially because Jackson and Spielberg are demanding a relatively huge cut of the film revenues "without putting up any of the capital themselves. (Elier 2008)" In addition, Tintin is quite unknown to most Americans, despite its acclamation in Belgium. Tintin is a longtime pet project of Spielberg and he intends to make it into a trilogy series, which he will direct along with Peter Jackson. He has been working on the film with Paramount for a number of years now, but all the progress could go to waste without Universal Pictures helping Paramount to pick up the tab for production. If the studio changes its mind, however, Spielberg said that he is ready to shoot as early as next month.
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