Universal Pictures pulls plug on 'Tintin'

LOS ANGELES, Sept. 20 (UPI) -- Universal Pictures officials say the U.S. studio will not create an animated movie version of the Belgian comic strip "Tintin" because of cost concerns.

Universal officials decided to pass on the 3-D project pitched by directors Steven Spielberg and Peter Jackson because they would have to be paid too much, the Los Angeles Times reported Friday.

"Tintin" would be based on a comic strip written by the late artist Georges Remi between 1929 and 1976. The Times said the comics, which are extremely popular in Europe, follow the exploits a man and his dog, Snowy.

The decision by Universal officials not to finance a cinematic version of the series has left Spielberg and Jackson, who would have commanded nearly 30 percent of the gross revenue, looking for funding elsewhere.

Spielberg is seeking backing for the former Universal and DreamWorks production's $130 million budget from Paramount Pictures, with which he and partner David Geffen have been trying to sever ties, the Times said.