King Conan: We all knew this day would come. According to IGN Filmforce, the 3rd Conan movie that was supposed to be brought to the big screen by producers Larry & Andy Wachowski, helmed by director John Millus, and star Arnold Swartzenegger, is now dead in the water. Disheartened by the lack of steam the project was getting, Conan Properties Inc. decided to pull their contract from Warner Bros.

The reason for this shocking turn of events is because Conan Properties, Inc., the company that owns the Conan character, has decided not to allow either Warners or the Wachowski brothers to renew their option on the material. This option was apparently on the verge of expiration.

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According to our sources, Conan Properties, Inc. was frustrated with the slow development process that Conan 3 (a.k.a. King Conan) was enduring at Warners, as well as with the Wachowskis' ongoing work on The Matrix sequels. (Apparently, production on Conan 3 wouldn't have commenced until the Wachowskis were finished with The Matrix series.)

Now, with Millus and Swartzenegger not involved, Conan Properties Inc. hopes to get the ball rolling on this film at another studio, on a much smaller scale using The Scorpion King as it's template.

Interestingly, Swedish-based Paradox Entertainment recently bought 20% of Conan Sales Company, which according to a company press release, holds all intellectual property rights in and associated with the character Conan. This lucrative deal gives Paradox a say in all Conan licensing partnerships, including the film deal that was set up at Warner Brothers. Could these new partners have played a role in the Conan film's about-face?

"The potential in the Conan character, stories and fan base is huge. We plan to increase licensing activities immediately in all media, including newly written books, comics and computer games," said Theodore Bergquist, CEO of Paradox Entertainment, in a press release issued in October. "We've got two major challenges: The first is to be true to the great Conan fan base, and the second is to elevate the Conan brand and its characters preparing the property for another sixty years in the entertainment industry. We feel that Paradox is well suited to take on such tasks."

King Conan is dead. And so is the title that we've come so accustom to over the past year and a half. Disheartening, yes. Especially with the ensemble cast and crew that was recently rumored on the project. We'll keep you posted of any other changes...

Thanks to 'Stax'

Stay tuned...

Dont't forget to also check out: Conan The Barbarian