Johnny Depp's movie 'Lone Ranger' shut down

The Johnny Depp movie "The Lone Ranger" was shut down after Disney said it was paying closer attention to budgets, a source told the Los Angeles Times.

The future of the big-budget picture was uncertain Saturday although a Hollywood executive told the newspaper Disney sometimes pulls the plug on projects that are spending too much money.

The Times said Saturday "The Lone Ranger," which features Depp in the role of Tonto, had reportedly been nearing the $200 million mark. Disney apparently set a $250 ceiling on the project, according to website UPI.com.

CEO Bob Iger said this week on an earnings conference call that Disney was keeping a closer eye on the bottom line. "It's our intention to take a very careful look at what films cost," Iger said Tuesday. "If we can't get them to a level that we're comfortable with, we think that we're better off actually reducing the size of our slate."

While Iger may be shying away from what he called "films that are bigger and increasingly more risky," Disney has had good success with Depp in the past with "Alice in Wonderland" and the blockbuster "Pirates of the Caribbean" franchise.

Depp didn't say much about his opinion of the shut down.