Live-Action Ninja Turtles In Trouble?

Paramount's big-budget live-action, Michael Bay-produced Teenage Mutant Ninja Turtles reboot has run into some budgetary obstacles, reports Nikki Finke, with production delayed in order to shave down the film's budget to the reported target of $125 million. This means the heroes on a half shell won't hit screens until five months beyond their initial Christmas 2013 date, moving to May 2014 — if a satisfactory budget is reached, that is. Are the Turtles in trouble?

Over at THR, a report puts it in more definite, less hopeful terms, citing sources who say the studio has shut down prep on the film "indefinitely":

The issue is said to be the script. Paramount has delayed several big movies from this year to 2013, including G.I. Joe: Retaliation and Brad Pitt’s World War Z, leaving it with a spotty pipeline for the current year. Now it has halted work on its planned holiday movie for 2013, temporarily laying off preproduction staff and informing those prepping the film that the work stoppage is "indefinite," according to sources. Another source close to the production says the movie has been pushed by ten weeks.

[Deadline, THR]