Warner Bros. has packed all its work on the upcoming "Green Lantern" film and took it away from Australia.
A statement from the studio says the move is being forced to relocate because of "the current global economic situation, including fluctuations in currency valuation and overall costs."
Production on the next DC blockbuster was in jeopardy due to the financial climate in Australia. The rising Australian dollar was blowing out production costs and a film of this magnitude will wind up having a large budget no matter where the shoot is.
Last week, the Australian dollar hit a 27-year high against the US dollar and the costs of filming "Green Lantern" have now increased by more than $20 million. The Aussie dollar is being tipped to rise further and may reach parity with the US dollar in the coming weeks.
"Green Lantern"--starring Ryan Reynolds as the title hero--is likely to end up shooting in Mexico or Canada.
The film is currently set for release on June 17, 2011.
