War of the wads

Steven Spielberg's new film could be the most expensive ever.

11:46 18 August 2004

Rumour has it that Steven Spielberg's new movie could have the largest ever production budget.

The celebrated director is teaming up with A-list lead Tom Cruise to bring HG Wells' War of the Worlds to the big screen.

Spielberg and The Cruiser will need every ounce of their considerable box office appeal to make the project a success.

Reports suggest that the film could cost as much as 120 million, beating the previous record holder, Titanic.

According to The Sun newspaper, both director and star will take a 20 per cent cut of the box office takings rather than an upfront fee.

War of the Worlds is backed by Paramount and could be released in the US as early as Christmas 2005.