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Empire reports that many of the Pan’s Labyrinth director’s potential projects are stalled in one way or another: For example, Del Toro describes the script to his Frankenstein adaption as
not ready. That’s the problem. it’s not an easy one to crack. There’s been so many versions, and I really believe what we’re doing is something new, without changing the novel.
Similarly, Hellboy 3 is also scriptless. Worse still, his Lovecraft movie At The Mountains of Madness seems to be dead altogether:
It doesn’t look like I can do it… It’s very difficult for the studios to take the step of doing a period-set, R-rated, tentpole movie with a tough ending and no love story… Lovecraft has a readership as big as any best-seller, but it’s tough to quantify because his works are in the public domain.
Whatever the new project will end up being, del Toro hopes to have an announcement at next month’s Comic-Con in San Diego.