Report: Spidey musical budget up to $40M

NEW YORK, Oct. 9 (UPI) -- Director Julie Taymor's upcoming Broadway musical "Spider-Man" could cost as much as $40 million to bring to the stage, insiders told the New York Post.

Taymor, the mastermind behind the wildly popular musical "The Lion King," is directing the show, which has a rock score by Irish singer-songwriter Bono. "Spider-Man" reportedly is being co-produced by Sony, Marvel Comics and David Garfinkle, a lawyer who gained control of the musical after its original producer, Tony Adams, died three years ago.

With its estimated $40 million budget, the superhero show is the most expensive production in theater history, the Post noted.

"It's off the charts," one source told the newspaper. "Off the charts."

Insiders said much of the budget is going to designers.

"Julie's called designers -- I mean people who aren't just designers but who have their own companies -- and offered them jobs," a source said. "The Playbill is going to have 18 pages of designer bios."

A high-ranking production insider told the Post the show is still on track to open on Broadway next year.