Heavy effect budget puts the final nail in the coffin.

Insiders close to the production of Alex Proyas’ ambitious adaptation of John Milton’s 17th-century poem ‘Paradise Lost’ have confirmed that Legendary Pictures has officially pulled the plug due to financial issues.

Proyas’ adaptation was set to star Bradley Cooper and Benjamin Walker in the ultimate battle of good versus evil, with Cooper playing Lucifer and Walker in the role of Archangel Michael. Casey Affleck, Djimon Hounsou, Rufus Sewell, Camilla Belle, Dominic Purcell, Diego Boneta and Callan McAuliffe were on all board to co-star.

According to the sources, the heavy visual effects budget was the main reason behind Legendary’s decision; the same reason the adaptation had its start date halted back in December. The producers were unable to rework a budget that had passed the $120 million.

‘Paradise Lost’ follows Guillermo del Toro’s adaptation of ‘At the Mountains of Madness,’ Ron Howard’s multi-part adaptation of Stephen King’s ‘The Dark Tower,’ and David Dobkin’s ‘Arthur & Lancelot’ on a the list of recent projects that have stalled due to budget issues.