Production of Warner Bros.’ Green Lantern has pulled up stakes from Australia, part of an overall decision by the movie studio to reassess its overseas filming operations, according to The Hollywood Reporter.

The reason is the power of green — or the lack thereof. As the falling U.S. dollar continues its slide, the once-sound financial strategy to film Down Under has become more expensive. George Lucas took production of his Star Wars prequels to the then-new Fox Studios Australia in Sydney. In 1998, it was a bargain.

With a live-action Star Wars television series on the way, the land of koalas and kangaroos has been floated as a possible base of operations for that lucrative venture — but these days even Lucas isn’t so sure. Read the rest of this entry »