KING KONG: 3 Hour Feature to be Released

According to Variety, less than two months before its December 14 release, Universal Pictures has doubled down, agreeing to release Peter Jackson's three-hour cut, which will push the budget to $207 million.

The budget on the great ape epic went up primarily because of the additional FX work needed. Jackson and Universal had originally contemplated a running time of around two and half hours, with a budget around $175 million. Jackson's original $20 million deal for King Kong -- which covered helming as well as writing and producing with wife Fran Walsh -- included a penalty if he brought it in over budget. Universal and Jackson's camp have been in recent days negotiating how to pay for the overages. The result: Jackson will pay for the bulk of the additional $32 million needed to bring in the super-sized King Kong. However, just the fact that "Kong" carries a $207 million price tag -- despite Jackson's own Weta Digital FX shop doing all of the FX work and the production receiving subsidies from New Zealand -- dramatically illustrates the escalating costs for Hollywood's biggest spectacles.

The Universal delegation knew they were going to see a three-hour version, but hadn't made any decisions on whether to release it. "We expected to see a long movie," said Universal chair Stacey Snider, "and we loved it. It's a brilliant movie, an epic feast. "Studios normally seek to avoid longer runtimes since it limits the number of showings when a pic is released in theaters.

However, some of the biggest grossing pics have had three hour run times, including all of Peter Jackson's "Lord of the Rings" trilogy. The final installment, "The Return of the King” clocked in at three hours and 20 minutes. And of course, the all-time biggest grossing film Titanic reached $600.8 million despite running three hours and four minutes. Still, by opting for a three-hour runtime, Jackson will nearly double the 1933 original "Kong's" one hour and 40 minute length.

Also, Apple.com has posted a new featurette called "A Look Inside" which explores the making-of Peter Jackson's upcoming epic remake. The documentary features tons of new footage and behind-the-scenes effect shots from the film, which brings viewers closer to the production of the massive holiday movie. Interviews with director Peter Jackson, actress Naomi Watts and actors Jack Black, Adrian Brody and Jamie Bell tell what's it's like to work on this film with Jackson as he accomplishes his childhood dream of bringing the magic of this film to a contemporary audience.

Check out the extraordinary Final Full Length Trailer at: http://www.apple.com/trailers/universal/king_kong/