Passage: When Universal cancelled King Kong in 1997, Jackson and Walsh immediately received support from Weinstein and began a six-week process of sorting out the rights. Jackson and Walsh asked Costa Botes to write a synopsis of the book and they began to re-read the book. Two to three months later, they had written their treatment. The first film would have dealt with what would become The Fellowship of the Ring, The Two Towers, and the beginning of The Return of the King, ending with Saruman's death, and Gandalf and Pippin going to Minas Tirith. In this treatment, Gwaihir and Gandalf visit Edoras after escaping Saruman, Gollum attacks Frodo when the Fellowship is still united, and Farmer Maggot, Glorfindel, Radagast, Elladan and Elrohir are present. Bilbo attends the Council of Elrond, Sam looks into Galadriel's mirror, Saruman is redeemed before he dies and the Nazgûl just make it into Mount Doom before they fall. They presented their treatment to Harvey and Bob Weinstein, the latter of whom they focused on impressing with their screenwriting as he had not read the book. They agreed upon two films and a total budget of $75 million.During mid-1997, Jackson and Walsh began writing with Stephen Sinclair. Sinclair's partner, Philippa Boyens, was a major fan of the book and joined the writing team after reading their treatment. It took 13–14 months to write the two film scripts, which were 147 and 144 pages respectively. Sinclair left the project due to theatrical obligations. Amongst their revisions, Sam is caught eavesdropping and forced to go along with Frodo, as occurs in the original novel. In the final treatment Sam, Merry, and Pippin infer the existence of One Ring and voluntarily go along after confronting Frodo about it. Gandalf's account of his time at Orthanc was pulled out of flashback and Lothlórien was cut, with Galadriel doing what she does in the story at Rivendell. Denethor attends the Council with his son. Other changes included having Arwen rescue Frodo, and the action sequence involving the cave...

Question: What did Miramax do to two films when it run out of budget?
merge the two films into one