AceShowbiz -

Robert De Niro and Robert Pattinson's film "Idol's Eye" has lost its production company and financier. Benaroya Pictures announced on Monday, November 3 that it had pulled out of its commitment due to the producers' failure to meet financing deadlines.

"Due to the criteria for financing not being met by producers, Benaroya Pictures has formally decided to discontinue financing the motion picture titled IDOL'S EYE," the company said in a statement. "The company cannot continue to put its investment at risk and has been forced to stop cash flowing the production."

It continued, "This is something all of us wanted to avoid, but due to the producers missing a number of financing criteria deadlines that were mutually established by all parties, we were left with no other options. Benaroya Pictures plans to retain the rights of the film and move forward with production on the picture after we generate a revised script and assemble a new filmmaking team."

A crime drama directed and written by Olivier Assayas, the film was expected to begin shooting in Chicago and Toronto last month. Actor Shane Daly was the first to hint on the movie's cancellation. He tweeted on Monday morning, "Bad news morning ...turns out that #IdolsEye, the Robert De Niro film has been cancelled. No reasons as of yet. @IdolsEyeFilm."