Back in December, Legendary postponed production on Paradise Lost, which was set to star Bradley Cooper, Benjamin Walker, and Djimon Hounsou, and was originally supposed to start shooting in January. Bradley Cooper also revealed last month that Paradise Lost may start shooting in June, which seemed to indicate Legendary was making headway in trimming the $120 million budget, although that is obviously not the case now.
It is said the main reason for the project being scrapped is because the cost of CGI action scenes haven't come down enough. These battles between celestial beings play a major factor in the plot line, and it seems they couldn't find a way to create high-quality CGI effects at a reasonable cost.
This is not the first project to be shelved due to budgetary constraints, with The Dark Tower and Arthur & Lancelot among the latest casualties. There is the possibility that Paradise Lost may return some day with new financial backers, but for now, don't expect to see Paradise Lost on the big screen anytime soon.