The Lone Ranger "shut down"

Sources claim the movie set to star Johnny Depp as Tonto has been canned.

Sources close to Walt Disney Studios' much-anticipated big-screen adaptation of "The Lone Ranger" claim production has been shut down.

The Social Network star Armie Hammer was set to play the Lone Ranger with Johnny Depp as Tonto.
Deadline Hollywood is reporting the blockbuster was canned after movie bosses failed to agree on how to reduce the £154million budget by £30million.

Filming was due to begin in October with a December 2012 release and would have seen Depp reunited with Pirates Of The Caribbean producer Jerry Bruckheimer.

The Lone Ranger show became a hit TV series during the 1950s.