Universal backed out of financing Steven Spielberg and Peter Jackson's proposed trilogy Tintin when they discovered that the film would cost them $130 million. Now, according to Los Angeles Times, the two highly acclaimed directors are scrambling to find another financial partner.

Los Angeles Times observes that today's tough economic climate is responsible for the film's demise at Universal. Their decision to back away from the film had nothing to do with the film's content or the two men making the film. It all had to do with the huge price tag attached to it.

When that much money is involved, a project like Tintin becomes a high-risk for the studio. The film is set to be based on a book series that ran from 1929 to 1976, and while still quite popular in Europe, it is an obscure property to U.S. audiences.

Related: Peter Jackson to Direct The Adventures of Tintin Sequel After The Hobbit

Tintin was set to be Spielberg's next film, with production to start next month. As of now, the film is at a standstill. We will keep you updated with any changes that may occur regarding this situation.

Dont't forget to also check out: Tintin 2

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B. Alan Orange