Say what you will about The Ring being a pretty good remake or The Mexican not being as bad as everyone says, it’s impossible to put a positive spin on the phrase “the director of Pirates of the Caribbean 3 is doing a videogame movie.”  That’s the story behind Gore Verbinski’s Bioshock, which recently halted productions due to cost overruns.

The picture was in pre-production, but the studio has halted that effort — and let some production staff go — as Universal and Verbinski figure out a way to make the film on a less costly budget.  The John Logan-scripted picture was gearing up to shoot in Los Angeles, but that changed when the budget rose to about $160 million. U and Verbinski are looking at alternatives, such as shooting in London, as a way to pare costs. Story takes place in the underwater city Rapture, where a pilot crash-lands near a secret entrance and becomes involved in a power struggle. [Variety]

Okay, two things: 1. Street Fighter is probably the most well-known videogame of all time, and the movie has so far grossed $11 million worldwide, even with a performance for the ages from Chris Klein. No way you spend more than $10 mil on a video game movie (which, let’s be clear, are NEVER EVER GOOD). 2. London? A pint of beer costs like $15 in London.  If it’s cheaper to shoot a movie there than in the supposed entertainment capital, something is seriously wrong with Los Angeles.  Something besides Entourage, even.