Johnny Depp & His 'Lone Ranger' Ride Again With Smaller Budget

Johnny Depp and Armie Hammer are back in the saddle for “The Lone Ranger” after a soaring budget for the Jerry Bruckheimer/Gore Verbinski movie caused a delay in production.

“Johnny Depp, Jerry Bruckheimer and Gore Verbinski are such a talented combination and we’re thrilled to get back to work with them on ‘The Lone Ranger,’ an original and exciting new Disney adventure,” a studio spokesperson said in a statement to AccessHollywood.com.

Hammer plays the masked cowboy hero and Depp will take on the role of his Native American sidekick, Tonto.

According to The Hollywood Reporter, the $250 million budget has been cut to $215 million, along with Depp, Bruckheimer and Verbinski also reducing their fees.

Production of the western, which also stars Tom Wilkinson and Helena Bonham Carter, is slated to begin in February and will open in theaters on May 31, 2013.

Additionally, Disney also announced that “Thor 2” has been moved from a July 2013 release to November 15, 2013.

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