Warner Bros. Pictures has officially pulled "Green Lantern" production out of Australia. The Hollywood Reporter (THR) brought up the confirmation news to the attention, reporting that the studio finally made the announcement in a statement issued through agency Screen NSW on Friday, October 16.
"After working closely with our partners at the NSW Film and Television Office (Screen NSW) and examining every scenario, we have decided to move the production of 'Green Lantern'," so read the statement. "We are extremely grateful for the assistance we have received from the NSW Government, Fox Studios and the NSW filmmaking community."
It is further explained the studio put the blame on "the current global economic situation, including fluctuations in currency valuation and overall costs," adding "We have also had to reassess film projects in other countries as well." As for the new production base, words are swirling that the superhero movie may be shot in Mexico or Canada.
As for the economic situation, THR pointed out that on Friday, the Australian dollar hit a 27-year high against the U.S. dollar. It means that since the shoot was announced six months ago, there is a 30% decrease in value for the American currency, which would add over $20 million extra in costs for the production.
Back in late August, Inside Film broke the story that budget concerns may force the filming of "Green Lantern" to be done in another country than Australia. "Green Lanternā��s proposed Australian shoot is understood to be under threat after the rising Australian dollar has blown out production costs," so the magazine reported.
"Green Lantern" is a fictional character found in comic books published by DC Comics. The main character, Hal Jordan, is an ordinary man who was chosen by a dying alien named Abin Sur to receive a green energy-powered ring, used for protecting the planet. Martin Campbell takes the directing job for the film, and Ryan Reynolds stars. June 17, 2011 is the planned U.S. release schedule for the movie.