More troubles for the ambitious adaptation.

After months of trying to lower the budget on the ambitious feature film trilogy and TV series adaptation of Stephen King’s fantasy western epic ‘The Dark Tower,’ Universal Pictures has decided to pass on the project.

Production on the first movie was expected to kick off later this year, but was shelved until the New Year in order to work out the budgetary problems. According to Deadline, the filmmakers planned to shoot the first movie and the first TV component at the same time, using the same sets and cast.

Universal had until July 15th to commit to the project or not at all. According to insiders, the studio loved the project and the filmmakers but couldn’t make the financials work.

The adaptation is the second high-risk-high-reward project that Universal has passed on, the first being Guillermo del Toro’s passion project ‘At the Mountains of Madness.’

For now ‘The Dark Tower’ will remain shelved until a new backer is found.