Yellow Submarine remake 'scuttled' by Disney
Disney Studios has scrapped plans for a 3D remake of The Beatles' 1968 film Yellow Submarine, according to industry paper Hollywood Reporter.
The new film was being developed by director Robert Zemeckis incorporating the 16 Beatles songs and recordings from the original animated film.
Budget issues and a cancelled meeting with surviving Beatles' members were cited as reasons for the film's demise.
However, Zemeckis is still free to try and sell the project to another studio.
The Oscar-winning Forrest Gump director first announced the project in August 2009.
It was later revealed that Cary Elwes, Dean Lennox Kelly, Peter Serafinowicz and Adam Campbell had been cast to voice the Fab Four.
Zemeckis planned to use motion-capture technology similar to that used in his previous films Beowulf and A Christmas Carol.
But sources told Hollywood Reporter the poor opening for the director's current animated film - Mars Needs Moms - had contributed to Disney binning the project.
The $150 million-budgeted (£93.7m) film opened in the US to just $6.9m (£4.3m) last weekend.