According to Variety After two months of speculation, the studio pulled the plug on the action-adventure and put it into turnaroundturnaround over the weekend. Producers Larry Gordon and Lloyd Levin were taking the project, with British director Paul Greengrass ("The Bourne Supremacy") attached, out to other studios.
"The Watchmen," based on the DC Comics series of the same name, came under heavy scrutiny in the wake of Paramount chief Brad Grey's surprise move to replace Donald De Line with Gail Berman as studio president in late March. De Line found out about the change while in London meeting with Greengrass about "The Watchmen" and the need to cut its budget, rumored to be $100 million.
Paramount had been aiming for a summer start but began releasing crews working on pre-productionpre-production at that point.
The trade adds that "The Watchmen" was previously set up at Universal, where David Hayter signed a seven-figure deal in 2001 to adapt with an eye toward directing. Story, set in the 1950s, centers on an ordinary man donning superhero garb to track down criminals and being joined by other vigilantes.
Stay tuned to CBM for the latest....