Lionsgate has sold back the film to production company Emmett/Furla/Oasis, which produced it along with Highland Film Group and Fiore Films, reported Entertainment Weekly.
Travolta and Walson say that they are nearing a deal with a new distributor for the film, which is directed by Kevin Connolly, and hope to premiere it at next year's Cannes Film Festival.
IDF strikes Gaza targets after rockets launched at Israel
Trump also said the United States would move its embassy from Tel Aviv to Jerusalem , though he set no timetable for that. Both Israelis and Palestinians lay claim to Jerusalem , although Israel has retained control over the city since 1967.
Lionsgate did not specify a reason for the sale, Vulture reports, while Deadline report that the sale was due to conflict in the distribution plans for the film. The production company reportedly exercised a buy back clause so that they could give it a bigger push.
SFGate's The Wrap reports that producers bought back the film because they wanted a "wide release" - not one at select theaters only, as Lionsgate planned.
He continued: "That is the simple explanation for this".
House Shoots Down Dem Rep's Impeachment Resolution
For these reasons, I've stated for months that I believe President Trump should be, and eventually will be, impeached. But the process of impeaching an American president and removing him from office is complex and challenging.
One remaining unanswered question here - as mentioned above - is why Emmett/Furla/Oasis chose to buy back Gotti so close to its release date. No word yet on why Lionsgate made a decision to drop the movie, but stay tuned... Our mistake was we should have said something right then and discussed our plan for the film.
Travolta then revealed that Lionsgate said "no" twice but eventually let it go after he begged them. "We didn't anticipate this speculation that is so grossly wrong". Gotti managed to avoid jail time throughout the 1980s but was incarcerated for life in 1992. Travolta told Deadline that his portrayal would dig into why a violent man became a sort of folk hero. What I needed to know was why the public loved John Gotti so much.
John Gotti, right, arrives at court morning of Feb.9, 1990. His life takes a tumultuous turn as he faces tragedy, multiple trials and a prison sentence.
First Look At 'X-Men: Dark Phoenix'
Turner's Jean Grey will pick up the storyline from the ashes of the poorly received 2006 film " X-Men: The Last Stand ". Lastly, it's important to realize that this will be the X-Men's first film with an intergalactic angle to it.