The heads at Disney have decided to halt production on Johnny Depp’s “Lone Ranger” movie after the budget reportedly totaled a rough estimate of between $250 million to $275 million for the adaption.  Filming was suppose to kick off this coming October under the direction of Gore Verbinski, and producer Jerry Bruckheimer, but has been put on hold for the time being.  The flick features Johnny Depp in the role of famed sidekick Tonto, with a cast line up of Armie Hammer as the title character, a rumored Helena Bonham Carter, actor Barry Pepper, Tom Wilkinson, Ruth Wilson, and Dwight Yoakam.

Fans don’t have to worry just yet, according to The EW, who spoke to one Disney executive, shared that “It’s not dead and gone.  It’s a priority project for the studio. We want to make this movie.”  Predicting that they plan on scaling down the production, a release date was previously scheduled for December 21, 2012, but at this point whether movie execs plan on changing the Lone Ranger’s premiere hasn’t been revealed.  Per several sources it sounds like the movie will resume once the budget can be widdled down to around $200 million, a dollar figure Disney is willing to work with.  We’ll keep you posted.