Disney has shut down production on Gore Verbinski's THE LONE RANGER, starring Johnny Depp, reports Deadline.com. The trade site states the ballooning budget as the reason for the drastic move. The Mouse House has become skittish about putting more than $200 million into a Western, especially following the less than blockbuster showing of COWBOYS & ALIENS. The filmmakers and the studio are all eager to make the film happen, but they need to work out the financials first.

The film has been described as a Don Quixote take on the tale taken from the view of Tonto, played by Depp. Armie Hammer plays the title character.

Jerry Bruckheimer is producing the epic oater from a script by Justin Haythe (REVOLUTIONARY ROAD).