The Hollywood Reporter has confirmed that Warner Bros. Pictures is pulling the production of director Martin Campbell's comic book adaptation Green Lantern out of Australia.
The studio said that "the current global economic situation, including fluctuations in currency valuation and overall costs. We have also had to reassess film projects in other countries as well."
"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.' We are extremely grateful for the assistance we have received from the NSW Government, Fox Studios and the NSW filmmaking community," the statement said.
The Green Lantern production is expected to move to either Mexico or Canada.
Starring Ryan Reynolds, the film is scheduled for a release on June 17, 2011.
Source: The Hollywood Reporter
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