Universal Pictures has agreed to release a three-hour cut of Academy Award-winning director Peter Jackson's King Kong, effectively ballooning the effects-heavy epic's budget to $207 million, Variety reports. Since Kong was originally envisioned as a two-and-a-half-hour, $175-million endeavor (due for a Dec. 14 premiere), Jackson will cover much of the added $32 million in expenses out of his own pocket — which is bananas, I tell you! Oops, what's that fast-approaching thumping sound...?!
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