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STX Entertainment is no longer in tune with Barbra Streisand‘s musical remake Gypsy.
The distributor has bowed out as the co-financier and distributor of the Streisand passion project, The Hollywood Reporter has confirmed.
It’s a blow for the project, which Barry Levinson is attached to direct, and leaves the commercially risky film looking for a new home.
Joel Silver, who most recently produced the action-comedy The Nice Guys, is still on board and shopping the project to a new studio.
A remake of Gypsy, which first debuted on Broadway in 1959 and was made into a film with Rosalind Russell and Natalie Wood in 1962, has been kicking around for some time. Though the 1962 movie was released by Warner Bros., Universal most recently held the rights and was eager to put it on its successful musical slate that has included Les Miserables and Mama Mia! But the studio put the project in turnaround, and former Universal chairman Adam Fogelson, now STX motion picture group chairman, snapped it up a few months ago.
It didn’t take long, though, for STX to jettison the project with Streisand poised to play the ultimate stage mother, Mama Rose, from its slate.
STX declined comment.
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