Disney's reboot of the western adventure "The Lone Ranger" has been dropped by the studio. The film, which was to star Armie Hammer (The Social Network) as the Lone Ranger and Johnny Depp (Pirates of the Caribbean) as his Native American sidekick Tonto, seemed to be too big-budget for the studio's liking.

A source within production confirmed to Deadline Hollywood that the film was unable to reduce its budget from $250 million to Disney's goal of $200 million.

The retelling of the popular western series of the late 1940s was going to be a reunion with director Gore Verbinski of previous Disney films like "Pirates of the Caribbean" with Depp who has been the studio's golden star within the past few years.

Verbinski had previously run into problems with Disney studios over budget issues with his direction of the third "Pirates" film.

The executives and filmmakers are currently in talks to find the next steps for the project if it may ever continue. Disney is looking into keeping its budgets tighter given recent trends in industry with film costs going for scrapping projects instead of spending on what's deemed too risky.

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