Halo movie on hold for now

"As was previously confirmed, we deeply regret that both Universal and Fox did not choose to move forward with financing the Halo film under the original terms of the agreement. At this time Peter Jackson and Fran Walsh, along with their partner, Microsoft, have mutually agreed to postpone making a feature film based on the Halo video game universe until we can fulfill the promise we made to millions of Halo fans throughout the world that we would settle for no less than bringing a first class film to the big screen."

Which is a damned shame, because this one seemed like it could be a video-game-to-movie that would not suck. It had a huge financial backer and a brilliant producer. After the recent close call I thought it was back on track but looks like it's not. Even though I think that movies based on games are unnecessary in most cases, and would have thought so in Halo's case especially, this seemed really in the right hands, it looked like they really got the concept of producing a movie alongside an already existing franchise and making it work with the games' story instead of trying to reinvent the wheel in some cheesy way.