Let's sort through the Arthur & Lancelot business first.  Last year, the studio spent $2 million acquiring the spec script from David Dobkin, the Fred Claus and Wedding Crashers helmer who is also set direct.  The project has been a high priority at the WB, which moved it swiftly through development, planning a production start in spring of this year for March 15, 2013. 

Last month, though, concerns about the budget prompted some hemming and hawing.  The initial budget for the film, which would be a lighthearted action story in the vein of Sherlock Holmes, was set at $90 million, but when it inflated to a potential $130 million, reports indicated the project might be abandoned.

Part of the problem, it would seem, is the casting of the titular duo, with Kit Harington and Joel Kinnaman set to play Arthur and Lancelot, respectively.  Though they're won many fans with their television work on The Killing and Game of Thrones, neither is a recognizable name on which the movie could be sold to the public.

Now, according to The Hollywood Reporter, Warner Bros. is putting pausing progress on the film in order to sort out the budgetary issues.  Though Dobkin put in calls to key figures on Wednesday to inform them that it "wasn't looking good," Arthur & Lancelot has not been killed outright.  A source in the studio asserts that everyone involved is trying to make it work.  It could very well end up getting made at a reduced budget, as was the case with Disney's The Lone Ranger.  If that happens, though, it could lose one or both of its leading men due to scheduling conflicts, as both have commitments to their television series.

With Arthur & Lancelot vacating the spring of 2013, Jack the Giant Killer will step in to take its place with a new release date of March 22, 2013.  The film, which stars Nicholas Hoult, Ewan McGregor, Bill Nighy, and Stanley Tucci, was scheduled to arrive on June 15 of this year, and last month Warner Bros. even released the first teaser trailer. 

The nine-month delay will allow more time to polish the film's ample visual effects.  It will also allow for a Jack the Giant Killer trailer to be attached to The Hobbit: An Unexpected Journey this December.  Since that fantasy prequel is pretty much guaranteed to be a commercial success, Singer's fairy tale adventure could piggyback on interest in Peter Jackson's return to Middle Earth.