After recent news that Nancy Meyers was set to return to directing a feature film for the first time since 2015, the film is now being shut down by Netflix after the two sides could not reach a budget consensus for the project. Meyers had reportedly asked for at least $150 million which would have made it the most expensive romantic-comedy film ever from Hollywood. Although Meyers is known for commanding larger budgets for her star laden films and stunning production designs, Netflix appeared unwilling to go over $130 million for the project and effectively decided to shut down negotiations on the film as they would not meet Meyers’ request.

Originally circling the film was Scarlett Johansson, Penélope Cruz, Michael Fassbender, and Owen Wilson with Meyers set to write, direct, and produce the film that was currently being labeled Paris Paramount. It was first announced a year ago, with this set of castings being reported in the last couple weeks. It is likely that Meyers and the cast would have consumed a large portion of her requested budget.

As a parallel to Meyers’ life and work with fellow writer-producer Charles Shyer, the plot was set to center on a young writer-director who falls in love with a producer as they make several successful films together before breaking up romantically and professionally. It remains to be seen whether Meyers will also shut down her own efforts to produce the film or if she will shop the script to producers elsewhere.

Source: The Hollywood Reporter