This is one MAJOR setback!

Kenny Ortega, the man behind High School Musical, Dirty Dancing, and the new Michael Jackson documentary, This Is It, has pulled out of his latest project, the new Footloose remake!

Apparently, the acclaimed director and choreographer had problems with Paramount Pictures over tone and budget for the film. Insiders suggest that Kenny was looking to make an elaborate musical spectacle out of the movie, needing somewhere near $30 million dollars to create fabulous staged musical numbers. Paramount's production chief, Adam Goodman, however is looking for more of an "edgier drama with less emphasis on the musical numbers and a budget around $25 million or less."

So Kenny is bowing out. Both Paramount and Ortega confirmed the split and remained professional when releasing the official statement:

"Coming off the extraordinary project, Michael Jackson's 'This is It,' director Kenny Ortega has decided it is premature for him to commit to his next film and will not be moving forward with 'Footloose' as previously reported."

That's all well and good, but who will direct Chace Crawford now???

Adam Shankman, are you available? Rob Marshall???

Someone, clear their schedule!!!

[Image via WENN.]