Cary Fukunaga leaves Stephen King's 'It' adaptation

Cary Fukunaga, who came into limelight as a director after helming the first season of TV show "True Detective", has reportedly left the adaptation of author Stephen King's landmark novel "It".

According to sources, New Line Cinema and Fukunaga are parting ways over budgetary allocations that stem from a difference in creative visions, reports hollywoodreporter.com.

The film was due to begin shooting in three weeks.

The story follows a group of teens called the Losers Club who defeat a creature called It. Years later, the creature returns, and the members of the club - now adults - have to band together again even though they have no memory of the first battle.

The plan was for the first movie to tell the children's story and the second movie to focus on the adults.

The source added that New Line had greenlit the movie at $30 million (the second part would have had a larger budget) and that Fukunaga's drafts were coming in at a higher number. Even with the start of principal photography approaching, the script was still being reworked.

Executives, producers and the director realised they were at an impasse and would not make their start date. Fukunaga decided to leave the project, which has now been pushed indefinitely.