Update: Deadline now reports that Media Rights Capital have entered “serious talks” to finance the enterprise themselves, what with the company’s co-CEO, Modi Wiczyk, being an enthusiast of King‘s books. On top of that, the success which came from developing Ted has encouraged them to take up an expensive project; the money is there, basically, so Howard and Crowe are expected to come aboard in a deal which should go through before long. MRC are bound to Universal in a distribution deal, though the studio having renewed interest isn’t entirely possible. That will have to wait, I guess. You can read the original story below.

Our last report on The Dark Tower, one not without the promise, came with the caveat that Warner Bros. had to make a “final decision.” As much as you might want to see this happen, you can’t blame them all that much. One doesn’t just commit to what is, in the creators’ hopes, a three-film series accompanied by a two-miniseries deal — not in this day and age.

The studio have made their final decision, and it’s definitely not what Ron Howard wanted to hear. Variety brings word that The Dark Tower has been given the dreaded “nay,” despite the potential involvement of Russell Crowe and, no less, a recent draft from Akiva Goldsman. Should recent history mean anything, let’s presume such a decision was based on finance.

You don’t need me to tell you this is bad, but… this is bad. Don’t forget that Universal already passed in July of 2011, with the project getting one update eight months later, going quiet, then only coming back on our radar a whole six months after that. (It’s been a real crawl that only gets knocked back after a certain point is reached.) Variety throws a little extra dirt on the coffin, while they’re at it, noting that many “believed WB was its best chance of getting made.”

Hey, maybe they’ll do the entire thing at HBO. The strange and violent nature of Stephen King‘s epic novels is sure to leave studios a smidge uncomfortable, particularity in a day and age where R-rated franchise projects give studios the willies. The cable network? They thrive on it.

The scope would be a bit more constrained, but much of those books are people walking around a desert, forest, or something of that nature whilst carrying conversation; you could do that for a reasonable amount, even with greenscreen. If I were directly involved, though, this would be a big sign to simply let things go.

Is it disappointing to hear that The Dark Tower might be out of commission?