Ed Driscoll

"Recession Hits Hollywood"

The Internet Movie Database reports:

The current economic downturn is drying up traditional financing for many film producers — from those turning out low-budget indies to those making big-star vehicles, the Hollywood Reporter reported today (Thursday). “Projects that would have sailed through easily a year ago are stalled in development. Movies that are practically in preproduction are falling apart at the eleventh hour,” the trade publication observed. It cited a number of projects that had been in development by established producers that have fallen apart for lack of financing, including an Oliver Stone-Antoine Fuqua biopic about Colombian drugs overlord Pablo