Legendary director Guillermo del Toro is a man who’s always on the go. On any given day, You'll find him linked to half a dozen films and television series. Some are real, others merely speculation. His Pinocchio passion project was one of those real films that just needed a big enough budget to get off the ground. According to IndieWire, $35 million to be exact . A large sum, but not unreasonable for your typical Hollywood film.

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In a recent interview we had with del Toro discussing the upcoming season of Trollhunters on Netflix, he confirmed the sad truth that his darker version of the little wooden boy won’t be coming to a theater near you.“It’s not happening,” del Toro said, adding, “But the idea was to do Pinocchio during the ascension of fascism in Italy, with Mussolini. It was a good time to discuss the idea of being a puppet or being a human, but you know, it’s not in progress.”This reveal also comes after the news that he will be taking a year off after The Shape of Water comes out, which is already garnering high praise.“I’m 53, I want to not know what I’m doing next, it’s like a privilege," del Toro said. “That’s why I’m taking the year off, as a director to really think about what I’m doing next. All of those projects, some of them happen and some of them don’t. The natural state of a movie is not to happen. That’s the reality.”Knowing that del Toro is going to be off the directorial radar for the next year is hard to hear, but if anyone’s deserving of a little time off to gather his thoughts, it’s him.Watching a non-Disney version of Pinocchio from a director as talented as del Toro would have been fascinating to see. What do you think about del Toro’s canceled Pinocchio project, and what would you like to see him do when he gets back?

David Griffin still watches DuckTales in his pajamas with a cereal bowl in hand. He's also the TV Editor for IGN. Say hi on Twitter