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'Pacific Rim 2' Update: Director Guillermo Del Toro Slams Movie Cancellation Rumors

"Pacific Rim" fans can now give a sigh of relief as the sequel for the movie is pushing through. According to a report by Business Standard, "Pacific Rim 2" has not been shelved. This has been confirmed by the director himself, Guillermo Del Toro.

The second installment of the film was previously rumored to have been cancelled, with reports saying that it has been "shelved" and it's "off the table" due to reasons involving finances. Collider reported that Del Toro seemed to have moved on to the next project, which was a "Fantastic Voyage" remake for producer James Cameron.

However, the director posted a tweet a few days ago, telling everyone that the rumors of the movie being dead are baseless and not true. He wrote, "Pac Rim 2 cancelled? Don't believe everything you read. It's still going and I'll remain w it in one way or another!"

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Some assumed that Del Toro was just being stubbornly optimistic but according to GameSpot, his claim may be true. The source cited that Legendary Pictures, the production company behind the film, was recently purchased by the Chinese conglomerate Dalian Wanda Group. The Chinese company was able to buy Legendary for about $3.5 billion.

The acquisition has brought new hope for "Pacific Rim 2" as the first movie was a big hit in China. Although the domestic gross was a disappointing number, the sixth biggest gross ever for a Hollywood movie was recorded in China as soon as the movie opened. In fact, the film earned more than a third of its entire international gross in China.

Legendary chairman and chief executive Thomas Tull said: "Together, Wanda and Legendary will create a completely new international entertainment company.

So it looks like "Pacific Rim 2" still stands a chance in the movie world. Fans will just have to stay tuned to get updates on it.

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