Economic crisis affects 'The Golden Compass'

New York, Oct 20 (IANS) Two planned sequels of the movie "The Golden Compass" have become Hollywood's first major victims of the current economic crisis, with their production being put on hold indefinitely.

Produced by New Line studio, "The Golden Compass" that starred actors Nicole Kidman and Daniel Craig was the first of author Philip Pullman's "His Dark Materials" fantasy trilogy to be adapted for the big screen, reports contactmusic.com.

Two further films based on Pullman's novels - "The Subtle Knife" and "The Amber Spyglass" - were due to be made following the box office success of "The Golden Compass". But plans have stalled as a result of the downturn in the international economy.

The movie has grossed more than $370 million worldwide since its December 2007 release against its budget of $180 million.

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The Golden Compass