Thank God for the credit crunch. The ‘Spider Man’ musical penned by Bono and Edge from U2 has reportedly been halted due to cash flow problems.
The show was expected to open on Broadway, New York in 2010 but showbusiness publication Variety claimed that work on the musical has been delayed due to investment issues, stating that: "The halt is attributed to cashflow obstacles that producers… are working to resolve."
However, Vanity also suggests that the project could still go ahead on time, adding: "Others attached to ‘Spider-Man’ acknowledge the funding hiccup, but believe the situation will be resolved without forcing a disruption of the musical’s launch."
The musical is reported to have cost between $30m and $45m.
