King Kong $32m over budget

Peter Jackson's new film King Kong has gone $32m (€26.4m) over budget but apparently the studio remains happy.

It's been reported that the film - due for release at the end of the year - is more than three hours long and has cost $207m (€170.8m). It is unclear who will foot the extra costs, with Universal and Peter Jackson both said to be happy to cover the bigger budget for the re-make.