Production shut down on Robert De Niro film Idol's Eye

Production on Robert De Niro and Robert Pattinson's new movie Idol's Eye has been shut down due to financing issues.

The actors had been due to begin shooting the crime drama in Toronto, Canada later this month (Nov14), but co-star Shane Daly took to Twitter.com on Monday (03Nov14) to reveal the project had been scrapped.

He wrote, "Bad news morning... turns out that #IdolsEye, the Robert De Niro film has been canceled (sic). No reasons as of yet."

Executives at production firm Benaroya Pictures have since confirmed the film has been put on an indefinite hold, but they are hoping to pick up the movie again in the near future.

A statement released to GossipCop.com reads: "Due to the criteria for financing not being met by producers, Benaroya Pictures has formally decided to discontinue financing the motion picture titled IDOL'S EYE. The company cannot continue to put its investment at risk and has been forced to stop cash flowing the production.

"This is something all of us wanted to avoid, but due to the producers missing a number of financing criteria deadlines that were mutually established by all parties, we were left with no other options.

"Benaroya Pictures plans to retain the rights of the film and move forward with production on the picture after we generate a revised script and assemble a new filmmaking team."

French filmmaker Olivier Assayas had been tapped to direct Idol's Eye, a movie based on the true story of a gang of thieves who plot to rob a pawn store, only to discover the shop is just a front for a violent crime boss.

Rachel Weisz had also been cast in the film.