HBO Max's planned live-action Green Lantern series has just gotten a new lease on life, though it apparently won't have as much money behind it as previously expected.

The first iteration of HBO Max's Green Lantern was intended to focus on the Alan Scott and Guy Gardner incarnations of the eponymous DC character. That said, it's come to light that the series is being re-developed, and will now focus on the John Stewart version of Green Lantern instead. While fans certainly seem excited by this development, it does come with the caveat of a reduced budget.

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In its initial report, The Hollywood Reporter recounted how Green Lantern was originally announced in 2019 as the "biggest DC show ever made," with an estimated budget of approximately $120 million. However, the outlet explains that "[t]he show's budget going forward is expected to be significantly less as HBO Max, under David Zaslav’s combined Warner Bros. Discovery, is focusing on right-sizing its various assets."

Notably, Zaslav and his top leadership at WBD have already pulled the plug on a number of HBO Max projects amid the company's cost-cutting, including DC's Strange Adventures, J.J. Abrams' Demimonde and, infamously, the DC Extended Universe film Batgirl. While Green Lantern is still going ahead, the show's initial, hefty price tag is reportedly what "doomed" its first iteration.

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HBO Max's Green Lantern Won't Have Quite as Much 'Green'

It was just this week that WBD explained in an SEC filing that it expects to take anywhere from $2 billion to $2.5 billion in content-related tax write-downs. These write-downs are currently expected to include the eight scripts that have already been completed for the first iteration of HBO Max's Green Lantern.

At this stage, executive producer Greg Berlanti is the only creative from the original version of Green Lantern still involved in the retooled version. Writer and showrunner Seth Grahame-Smith -- who penned the aforementioned eight scripts -- is no longer attached to the show. Finn Wittrock and Jeremy Irvine are also no longer attached to star as Guy Gardner and Alan Scott, though Berlanti Productions is "eager" to get both actors back on board if and when the revamped Green Lantern series moves forward.

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It should also be noted that the decision to restart development on Green Lantern was not made by new DC Universe bosses James Gunn and Peter Safran, as the two do not officially start their new jobs until November.

Source: The Hollywood Reporter