Fiscal responsibility isn't just for you anymore. Apparently, faced with dwindling box-office returns and increasing costs to produce and market a high-priced movie, Hollywood studio executives have gotten the memo that belt-tightening is en vogue. Like Warner Bros. did with 'The Lone Ranger,' Legendary Pictures has halted the Bradley Cooper-led effects-heavy 3D spectacle 'Paradise Lost' just one month before shooting was scheduled to begin in Australia.

Per Deadline, 'Paradise Lost' -- an adaptation of the John Milton classic poem; yep -- isn't being scrapped just yet. Apparently the budget sailed over $120 million and producers will try to cut that number down by 10 or 15 percent.

Led by Cooper as Lucifer, 'Paradise Lost' is also set to star Benjamin Walker as archangel Michael, Casey Affleck as Gabriel, Diego Boneta as Adam and Camilla Belle as Eve. It was initially scheduled for release sometime in late 2012.

[via Deadline]

[Photo: Getty]

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