GREEN LANTERN Pulling Up Stakes in Australia

Another day, another failed attempt at getting a DC project off the ground.   Thanks to the falling US dollar and the Australian dollar hitting a 27-year high against it on Friday, Warner Brothers has pulled production on GREEN LANTERN out of Australia.   According to The Hollywood Reporter, the studio claims “the current global economic situation, including fluctuations in currency valuation and overall costsâ€� are what forced the decision.   In a nutshell, with the differences in the value of each country’s dollar, the latest inflation would add an estimated $20 million to the film’s production budget.   The studio and agency Screen NSW also made the claim that they would have to reassess filming the project in other countries, as well.

The report claims industry insiders say production could be moved to Mexico or Canada, though nothing has been officially announced.

Production was to have begun in November with Martin Campbell at the helm and Ryan Reynolds donning the green suit.   The release date is currently shakey at its Summer 2011 schedule, though expect this to change soon.