It looks as if word of the death of the Spider-Man musical may have been premature.
Multiple media reports have “modest” work resuming today on the $35-million Spider-Man: Turn Off the Dark, which halted production in early August because of cash-flow problems on the part of lead producer Hello Entertainment.
But Variety notes that the Broadway show, directed by Julie Taymor (The Lion King) and featuring music and lyrics by Bono and The Edge, “isn’t quite out of the financial woods yet.”
“Not everyone who was working on Spider-Man has been called back to work, it’s said,” writes Gordon Cox, “which some point to as an indication that while producers have gotten hold of some of the cash needed to capitalize the massive tuner, not all of it has yet been secured.”
As we reported yesterday, the rest of the cash isn’t likely to come from Disney, which on Monday announced plans to purchase Marvel Entertainment. Instead, the New York Post’s Michael Riedel says, the funding could come from the pockets of Bono’s wealthy friends.
“Bono’s too smart to put his own money in the show,” Riedel writes, “but word on the street is that he’s tapped into his vast network of rich friends and business associates to restart production.”
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