Disney has been working on an adaption of the TV and radio character The Lone Ranger, a cowboy who fights criminals in the old west. The Lone Ranger just got shot. Disney has stopped production of the film which would star Armie Hammer as The Lone Ranger and Johnny Depp as Tonto. The film would have been directed by Gore Verbinski and produced by Jerry Bruckheimer. Disney cut the film due to budget concerns; Verbinski requested $250 million for the film. Disney tried to cut it down to $200 million, but couldn't. Disney is going ahead with two other untested projects, John Carter of Mars and Sam Raimi's Oz, The Great and Powerful.
As for the budget, it's ridiculous. Harry Potter and the Deathly Hallows: Part 2 cost that much. Transformers: Dark of the Moon cost less. Westerns have lost ground with Cowboys and Aliens disappointing at the box office. So, it should come as no surprise that Disney shut the movie down.
Disney says it's not dead yet, and that the movie could still be made. If they do work it out and The Lone Ranger goes back into production then Disney should move it to another date. Before they shelved the project, the film would have been released on December 21, 2012, and would have to compete with Brad Pitt's World War Z and Ang Lee's The Life of Pi, not to mention Ghostbusters 3 four days later (if that movie is still made). The Lone Ranger should do what Man of Steel did, which is move to 2013. But the only way The Lone Ranger will be made is if the budget goes down.