Ain’t It Cool News has a string of both good and bad news regarding the Last Unicorn live-action film. As it turns out, Continent Films recently paid $250,000 to go through with a buyout clause in their deal with Granada Media, owner of the rights to the 1982 animated movie. This payment shows the studio’s serious commitment to making the film. However, reportedly, the budget for the Last Unicorn live-action film is a third of what Unicorn creator Peter Beagle thinks it should be. This creates a situation in which Beagle would rather have the film be made his way or not made at all. Fortunately, Continent Films says a new producer – a ‘Hollywood heavyweight’ – is coming on board, and will be able to get the budget increased.