Paramount Could Shift 'The Wolf of Wall Street,' 'Jack Ryan'

The studio and Martin Scorsese are hoping to finish "Wolf of Wall Street" in time for a Christmas release. If that's doable, "Jack Ryan" would be pushed to the Martin Luther King Jr. holiday weekend in mid-January.

Martin Scorsese's The Wolf of Wall Street -- headlined by Leonardo DiCaprio -- won't be ready for its scheduled Nov. 15 release, raising the possibility that it won't be a contender in this year's Oscar race.

Insiders say Scorsese's cut of the film is 180 minutes long, and that he's currently in discussions with his producers about how to shorten the running time. Red Granite is fully financing and produced the drama, with Paramount handling the film domestically.

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Paramount and Scorsese are hoping that the movie, based on former broker Jordan Belfort's best-selling memoir, will be completed by Christmas in time for an awards run. If not, Wolf  would be pushed back to next year. Either way, it won't be ready for a sneak screening at the upcoming New York Film Festival.

If Wolf is done in time for a holiday release, Paramount will push back the opening of Kenneth Branagh's Jack Ryan from Christmas Day to Jan. 17 and give Wolf of Wall Street the Christmas Day slot, sources tell The Hollywood Reporter. Jack Ryan would open over the Martin Luther King Jr. holiday, a lucrative moviegoing weekend that saw Paramount's Cloverfield gross north of $40 million in 2008.

Jack Ryan, starring Chris Pine and Keira Knightley, hopes to relaunch Paramount's marquee spy franchise. Skydance Productions is Paramount's partner on the film, which also stars Kevin Costner. While based on the hero of Tom Clancy's best-selling book series, the movie is an original story that traces how a young Jack Ryan joined the CIA.

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Wolf also stars Matthew McConaughey, Jonah Hill, Jean Dujardin, Rob Reiner, Kyle Chandler, Margot Robbie, Jon Bernthal, Cristin Milioti, P.J. Byrne and Ethan Suplee.

Terence Winter adapted the screenplay, which chronicles Belfort's dramatic rise and fall on Wall Street, his hard-partying lifestyle and tumultuous personal life, which included drug and alcohol addiction.

Red Granite's Riza Aziz and Joey McFarland are producing with DiCaprio, Scorsese, Emma Koskoff and Alexandra Milchan.