Universal Freezes Future Projects

With its 2010 slate pretty much locked in and its 2011 slate well into development, Universal Pictures has frozen all funding on advance development projects for the rest of the year says Variety.

This means that any project in development at the studio that has not already been fast-tracked or greenlit has essentially been halted for the next four months.

Due to budget limitations, such a move isn’t unheard of but for a studio of that size and at this time it’s unexpected. An insider tells the trade “The studio doesn’t need to spend money on future projects right now because it essentially knows which pictures are going to get made over the next two years.”