Source: The Hollywood Reporter
News of a super-secret collaboration between Steven Spielberg and J.J. Abrams hit the web this week, creating a wave of wonder and excitement that will culminate this weekend as millions of Americans converge upon movie theaters to see Paramount Pictures Iron Man 2, where an independently shot trailer for Super 8 will be seen.
We were hesitant to report on the news until a bit of concrete information was available, as initial rumors that the film would have a connection with Abrams 2008 hit Cloverfield turned out to be false. Via The Hollywood Reporter, we now know that Abrams has written the original script and will direct the film this fall for a summer 2011 release through Paramount, where Abrams' Bad Robot resides. Spielberg is producing the project, which will be in the $45 million-$50 million range.
It's potentially a huge movie for Paramount, despite its mid-range budget, which is why it's got a slot during Paramount's already crowded 2011 summer slate. The studio will have to fit it in with Thor, Kung Fu Panda: The Kaboom of Doom, Transformers 3, The First Avenger: Captain America and the Abrams-produced Mission: Impossible IV.
The big question that remains now is whether or not Abrams will follow up Super 8 with the highly anticipated follow up to his 2009 blockbuster Star Trek, due June 29th 2012.