Things are not looking up for McG. After spending the first half of this year begging everyone to take his Terminator: Salvation seriously, and finding out that no one really did, he's now had to bail on his next project entirely. Variety has reported that McG has walked away from his planned remake of 20,000 Leagues Under the Sea, and Disney has put the entire project on hold indefinitely.
There's no official reason given for the change of heart, but I can think of a few-- McG still not proven as an action director, a remake of a property that's vaguely familiar but not necessarily a guaranteed hit, the likely staggering costs of filming underwater, or the sheer fact that they never managed to attract a star in the year of development. As recently as August McG was talking about his plans for the movie, but McG has proven time and time again that he's a much better talker than a doer.
It was the recently ousted Disney President Dick Cook who had been championing 20,000 Leagues, and while new president Rich Ross is apparently also committed to live-action tentpoles, 20,000 Leagues seems much more expensive and less likely to succeed than something like Tron. McG is already in the process of developing some kind of TV show with Larry Charles, and is not in danger of going away any time soon. Even though he's still prepping Terminator 5 for whoever buys the rights, it's probably best for McG to step away from big-budget franchises, regroup, and figure out exactly where he's most useful.
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