Disney has stopped production on a projected $150-million adaptation of a classic Jules Verne novel, a script co-written by novelist Michael Chabon (pictured, via).

According to the LA Times, Walt Disney Studios head Rich Ross axed the project that began under his predecessor; an adaptation entitled: “Captain Nemo: 20,000 Leagues Under the Sea.” The film studio had already spent a reported $10 million assembling the crew for the movie. Towards the end of the article, an anonymous source speculated that production could eventually resume.

Here’s more from the article: “Chabon, the Pulitzer Prize-winning author of ‘The Amazing Adventures of Kavalier & Clay,’ had just written a draft of the Burbank studio’s forthcoming production ‘John Carter of Mars,’ an adaptation of the Edgar Rice Burroughs novel and the first live-action film to be directed by Pixar Animation Studios director Andrew Stanton.” (Via.)