The ambitious new film version of Stephen King’s It has been pushed back indefinitely after director Cary Fukunaga quit the project.

The two-film adaptation of the 1986 horror novel was due to begin shooting this summer, but is now on hold according to The Wrap.

True Detective director Cary was reportedly frustrated with budget cuts and did not want to compromise his artistic vision to keep in line with how much the studio, New Line, were willing to spend. It is also claimed the studio were not happy about his plans to divide the story into two movies – one about the main characters as children, and a sequel following them as adults.

Will Poulter was set to star in the movie (Arthur Mola/Invision)
Will Poulter was set to star in the movie (Arthur Mola/Invision)

Will Poulter was apparently in talks to play Pennywise, the shape-shifting child murderer who takes on the form of a clown, played by Tim Curry in the 1990 cult film adaptation.