EW Staff
June 11, 1993 AT 04:00 AM EDT

Although studio executives can’t talk often enough about their new dedication to austerity, Last Action Hero’s budget, officially $47 million but rumored to be as high as $120 million, is fast becoming the rule rather than the exception. The tabs for James L. Brooks’ musical I’ll Do Anything, due this fall, and Rob Reiner’s 1994 family drama, North, are both said to be $50 million. And for films that haven’t been made yet and may never get made-such as those below, which have talent ”attached” but not signed-projected prices just keep going higher: *Smoke and Mirrors, Frank Marshall’s adventure, starring Sean Connery as an 1850s French illusionist, was heavily touted at Cannes last month. Cost: $50 million. *Ocean Storms, featuring Warren Beatty as an astronaut. Cost: $50 million. *Die Hard 3, which pits Bruce Willis against the Los Angeles subway system. Reported screenwriter: John Fasano (Another 48 HRS.). Cost: $60 million. *Ferrari, an action-packed biography of the famed auto magnate, starring Robert De Niro, with Michael Mann (The Last of the Mohicans) as director. Cost: $65 million. *Anne Bonny, a seagoing adventure about the 18th-century female pirate, starring Geena Davis, to be directed by Basic Instinct’s Paul Verhoeven (see story on page 6). Cost: $65 million.

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