Some things are just a little too good to be true, perhaps.

Back in July, it was reported that director Guillermo del Toro was finally making the movie he had been dreaming of making: an adaptation of the H.P. Lovecraft story, At the Mountains of Madness with none other than James Cameron helping out.

The director had big plans for the movie, sharing that it would be a big budget horror movie with the movie medal of honor, an R rating. The only problem with that is movie studios don’t like taking risks on horror and R-rated films, let alone ones that come with a massive price tag, so it was unclear whether or not the greenlight would be given…even with fan-favorite del Toro and a helping hand from Cameron.

This is a movie people want; the thought of a blockbuster horror movie from del Toro is about as appealing a thought as can be. That alone is a pitch worth greenlighting, but apparently it’s not enough for Universal Pictures, the studio that everyone who’s been dying to see this movie’s hopes have been trusting in to make it happen. According to Heat Vision, word is that the budget is just too high and they still hold out for hope that it could be wiggled down to a PG-13. And even worse, some seem to think it’s Universal’s brand new owners, Comcast, who are forcing them to hold a tight financial line.

Whether Comcast is causing problems or not is strictly speculation at the moment, but what this means is it looks like At the Mountains of Madness is again on hold. But don’t fret — the best thing about all of this is that del Toro doesn’t sell out and has made it very clear what he wants to do with this movie. It’s even said that he’s already looking for other studios who might be interested in taking the risk, which would be Universal’s great loss. The expected next candidate would of course be 20th Century Fox, who just made a little flick with Cameron called Avatar that made almost $3 billion worldwide and shattered every record in sight.

A lot of people give Fox much grief (myself included) over various things, but it would be an appreciated and respected move if they took a leap of faith on something like this and allowed del Toro to do it his way.

All of that said, the project is still on hold and it could be a while before things get figured out with Universal or the director brings his vision to someone else’s door. Meaning those of us so very excited to see Lovecraft’s vision brought to life are once again left wanting.

Would you be willing to accept a lower budget and PG-13 rating to see del Toro’s Mountains? Or will you wait as long as is required to see the movie exactly how Guillermo wants to make it?