What the Death of At the Mountains of Madness Means for Hollywood, and 6 Other Stories You'll Be Talking About Today

Also in this Tuesday edition of The Broadsheet: Bill Clinton and Charlie Sheen aren't in The Hangover Part II... Julie Taymor might be out of a job.... Liking movies on Facebook could have an entirely new meaning... and more ahead.

· According to Guillermo del Toro, At the Mountains of Madness -- his $150 million budget adaptation of H.P. Lovecraft's novella from producer James Cameron -- is "dead." What does this mean for the mythical industry in general? Is Universal -- with bomb after bomb on their ledger -- ruining things for everyone? Not really, writes Drew McWeeny for HitFix. "Rather than pointing the finger at one company or one decision, I'd like to say that the system at large is flawed right now, and it's a sucker's game. It is as bad right now as it's ever been, or at least in the 20 years I've been in Los Angeles. So many filmmakers I know are discouraged. So many film lovers I know are feeling like they don't see anything they like. For this to be fixed, it's going to take a lot more than one mega-budget horror film either getting made or not getting made. It's going to take a major paradigm shift in what gets sold, how it gets sold, and what audiences reward with their viewing dollars. And you can't lay that off on Universal or Guillermo or the pandering to fanboys. It's systemic." The short version? Forget it, Jake; it's Chinatown. [HitFix, The Criterion Cast]

· Remember those silly rumors about Charlie Sheen and Bill Clinton appearing in The Hangover Part II? Neither was true, says director Todd Phillips. "Somebody on some tiny little site made something up that said Charlie Sheen was in talks for Hangover 2 and then it gets picked up on every other site as a fact," said Phillips to EW. "It's not true. It's so frustrating." [EW]

· Turn off the lights on your way out? According to sources, Spider-Man: Turn Off the Dark director Julie Taymor might be relieved of her duties as the doomed musical looks to overhaul. Fingers crossed, Jules! [NYT]

· Warner Bros. continues to stay on the cutting edge of technology. Just a few weeks after announcing that they'd create iPhone versions of their films, the studio will turn to Facebook. Staring on March 8 with The Dark Knight, Warner Bros. films will be available on the social networking platform for rent or purchase. [Press Release]

· Time for some silly development news! Ridley Scott is still making that Monopoly movie... [MTV]

· ...and there will eventually be a Tomb Raider reboot for you to mock relentlessly. [LAT/24 Frames]

· With dwindling ratings and ad revenue, the OWN is getting a reboot. If history has taught us anything, however, it's don't bet against Oprah Winfrey. [NYP]