Hollywood studios are supposed to be in the movie-making business. Yet after reporting that Legendary Pictures had pulled the plug on Alex Proyas’ expensive adaptation of John Milton’s Paradise Lost, we now learn that Sony has decided to shelve a production of The Boys, which Anchorman and The Other Guys director Adam McKay wanted to tackle.

Based on a graphic novel by Garth Ennis and his illustrator, Darick Robertson, The Boys takes place in an alternate universe where an elite government agency polices superheros and evil villains, alike. When either side gets out of line, two enforcers – Billy Butcher and Wee Hughie – lead a team that attempts to set things right. THR says the picture has been out in turnaround at the studio, but the expected budget likely will keep it out of production for the time being. The trade adds that producers will continue shopping the project to rival studios.

A while ago, we reported that McKay wanted Russell Crowe for Butcher, and that Simon Pegg had a standing offer from the director to play Wee Hughie. Which is great. But in light of this move and the killing of Paradise Lost, there does seem to be a fair amount of cost analysis at the studios on pictures whose budgets have the potential to balloon.

The strange thing about McKay is that he’s having trouble mounting any project. Anchorman is his only film that didn’t crack $100 million at the box office. And yet, he can’t get an Anchorman sequel – or a project like this – greenlit. If a successful, profitable filmmaker like McKay struggles, what chance does a legitimate “little guy” have?