 Due to Cannon's assorted financial crises, the project shut down after spending about $1.5 million on the project.In 1989, Pathé, owned by corrupt Italian financier Giancarlo Parretti, acquired the overextended Cannon.The filmmaking cousins parted, Globus remaining associated with Pathé, Golan leaving to run 21st Century Film Corporation, keeping a number of properties (including "Spider-Man") in lieu of a cash buy-out.