Capitol boards 'Spider'
Cobalt exits Cronenberg pic
The $12 million psycho-thriller stars Ralph Fiennes and Miranda Richardson.
Adapted by Patrick McGrath from his own novel, it's the story of a schizophrenic whose fragile grip on reality starts to crumble when he is released from a mental institution after 20 years.
Pic is being produced by Catherine Bailey and exec produced by Luc Roeg for Artists Independent Network.
No explanation has been given for the failure of Cobalt to complete the financing of the project. Cobalt and Capitol refused to comment, and AIN could not be reached.
Shooting was due to start July 7 in London, but has now been delayed by three weeks because of the last-minute scramble to refinance the pic.
"Spider" has already passed through several hands. It was turned down by Cronenberg's usual financier Alliance Atlantis, then unveiled last year as a UGC project, before landing at Cobalt, then known as MM Media Capital Partners.
