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Universal & Fox Drop Halo

Microsofts feature film adaptation of HALO has lost a lot of its sheen with its studios Fox and Universal backing out, reports VARIETY.

Both studios had agreed to co-finance the film, which had a budget growing north of its initial $135 million pricetag. However, the real reason the studios jumped ship was due to their unsuccessful attempt to get Microsoft and the producers to lower their profit participation.

The renegotiations on the profit sharing came as an Oct. 15 deadline approached where the studios would have had to pay Microsoft nearly all of a promised $5 million advance. In addition to the film rights, Microsoft held 10% of gross for rights to the game and Alex Garlands script.

In regards to the growing budget, Ken Kamins, a rep for the films exec producers Peter Jackson and Fran Walsh, commented to VARIETY, "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. 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 (the studio that designed the original game), respectfully declined."

Kamins added that Microsoft is already in talks with other distribution partners and that pre-production work at Weta Digital and Weta Workshop has not stopped. Producers Mary Parent, Scott Stuber and Peter Schlessel are also still on board.

Addressing the concern of the inexperience of 27-year-old, first-time feature director Neill Blomkamp, Kamins said, "Everybody is supremely confident in Neal. Part of what excited Peter and Fran was Neal's vision. We're very confident this film will move forward with the creative partners intact, who will take the film to production."

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