Fans of Captain Jack Sparrow are going to have to wait a lot longer to see the next installment in the Pirates of the Caribbean franchise.
Disney (DIS) has dropped the planned sequel, Pirates of the Caribbean: Dead Men Tell No Tales, from its 2015 release calendar. Problems with the film’s script are reportedly behind the film’s postponement, according to The Hollywood Reporter.
The film was scheduled to begin shooting in March, but the initial script wasn’t a hit with the production team. A second version is in development now.
Producer Jerry Bruckheimer indicated that the film has a plot outline, but not a completed script. If a script can be created, the film could hit theaters in the summer of 2016. Bruckheimer admitted that the sequel’s projected costs – which Disney hopes to limit to $200 million — could also be a factor in the studio’s decision. He noted that, given recent big budget flops, “everybody’s more cautious.”
Disney is facing a $190 million write down after its The Lone Ranger bombed with movie audiences earlier this year. That failure could complicate negotiations between the studio and Bruckheimer over the new Pirates’ film budget.
However, the most recent Pirates’ sequel, On Stranger Tides, brought in more than $1 billion worldwide, making the eventual arrival of another installment in theaters a good bet.
Shares of Disney climbed about 1% in Wednesday morning trading.