Netflix pulls plug on big-budget Nancy Meyers movie

Netflix has shut down the new movie from Nancy Meyers.

The 73-year-old filmmaker had been set to helm a star-studded romantic comedy for the streaming giant but the plans have been scrapped for financial reasons.

According to sources, Netflix and Meyers could not reach an agreement on the budget as 'The Parent Trap' director wanted a budget of at least $150 million – but the streamer did not want to exceed $130 million.

Meyers has not directed since helming the 2015 movie 'The Intern' and commands big budgets as she is known for her work with A-list stars such as Jack Nicholson and Meryl Streep.

The new film, currently titled 'Paris Paramount', had Scarlett Johansson, Penelope Cruz, Michael Fassbender and Owen Wilson in talks to star.

It tells the story of an above-the-line filmmaking duo who begrudgingly reunite on set after falling in and out of love with one another.

The film has parallels with Nancy's own life as she and fellow writer-producer Charles Shyer had a long-time romantic and professional pairing, working on movies such as 'Father of the Bride', 'Baby Boom' and 'Private Benjamin'.

Meyers co-wrote and directed the 1998 movie 'The Parent Trap' and star Lisa Ann Walter – who portrayed housekeeper Chessy – is convinced that a reboot would be "genius" if the filmmaker and lead actress Lindsay Lohan are involved.

She said: "Look, if Nancy Meyers writes it, it’s gonna be genius. I don’t know if that is something that could happen… With Lindsay doing work again, as beautiful and talented as she is, certainly, anything is possible."