Spider-Man Broadway Musical Budgeted at $40 Million

The Spider-Man franchise has made beaucoup bucks in movies, and now Broadway wants a piece of the action. The New York Post reports that Julie Taymor (The Lion King) is creating a musical version with songs by Bono and a production budget of $40 million (though a source tells the Post, "We think we can get it down to $35 million").

PW Beat earlier carried a tipster's report that the planned show has "lots of LED stuff," "a lot of wires," and "a beautiful duet between Peter and MJ that I’m sure we'll all see at the 2010 Tonys."

Filmdrunk comments, "I could eat nothing but peyote every day for the rest of my life and still not come up with anything as fantastically stupid as this."