Universal Likely Pulling the Plug on Pacific Rim 2

Over the last few months kaiju fans have been thrown a wealth of renewed interest in the subgenre. Godzilla vs. Kong was announced, as Godzilla Resurgence went into production. Kadokawa-Daiei showed interest in devloping a new Gamera project with CG clad footage. Skull Island is entering the last few weeks of shooting. Ultraman's 50th birthday is underway with the upcoming Ultraman X movie and the mysterious 50th anniversary project.

Unfortunately, not all of these giant monster films may see the light of day. One in particular is heartbreaking. According to sources speaking with The Hollywood Reporter, Legendary Pictures' Pacific Rim 2 has been taken off the table at Universal and shelved indefinitely. Things weren't going well for the production when shooting was delayed and Universal subsequently took the film off their schedule. The latest news contradicts Universal's statement back in September, 2015:

“Legendary’s ‘Pacific Rim 2,’ originally scheduled for release on August 4, 2017, will be redated at a later time. The filmmakers, Legendary and Universal Pictures are committed to having ‘Pacific Rim 2,’ the sequel to 2013’s ‘Pacific Rim,’ which generated more $411 million at the global box office, be the vanguard, fully-immersive experience that the franchise deserves. To this end, the decision was made to delay the production and release of ‘Pacific Rim’ so that the creative team can continue in its efforts to exceed the amazing experience of the first film.”

Though this wouldn't be the first time a studio had submitted a press announcement just to let negative reaction blow over easier. Some are still holding out hope that Universal will stick to their word and release another statement clarifying the matter—At this point it seems like a long shot.

Speculation points to the studio having little faith in director Guillermo del Toro after Crimson Peak (2015) failed to find a large audience. Regardless, del Toro continued to prep Pacific Rim 2 in hopes it would be made. Now Twentieth Century Fox is currently eyeing him to direct The Fantastic Voyage remake which seems to indicate his schedule is open.

Another faint glimmer of hope may rest in the Wanda Group, China's largest property developer and a conglomerate overseeing four different industries. Investors, who collectively own over 50% of Legendary Pictures, have agreed to sell their stakes to the Wanda Group. This would give the Chinese conglomerate majority rule over Legendary—It's possible they would be interested in seeing a Pacific Rim 2 happen since the original was #1 at the Chinese box office for three weeks. It finished it's run with $114.3 million.

At the moment, however, signs point to Legendary's Pacific Rim 2 not moving forward at Universal. Stay posted for any further development on the project.

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Sources:
The Hollywood Reporter
The New York Times