Last week there was a report that Universal Pictures might possibly put their multi-platform endeavor The Dark Tower into turnaround because the budget was spiraling out of control. Now it seems that Universal is holding onto the property, although the production has been delayed.

Production was scheduled to start sometime this summer, although Universal has pushed the start date to February 2012. The producers and studio are currently working out a plan to bring the budget numbers down on this sprawling adaptation, which includes three movies and two TV seasons, which will air between the movies.

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However, Universal must give a green light to The Dark Tower by July, or else the rights revert back to author Stephen King, director Ron Howard, screenwriter Akiva Goldsman, and producer Brian Grazer.

We reported last month that Javier Bardem will star in The Dark Tower as Roland Deschain, the last in a line of gunslingers who heads out in search of The Dark Tower in a final effort to save mankind.