U2 will not cancel Spider-Man musical

U2 denied rumors that the work on their musical adaptation of Spider-Man has been canceled due to money problems. According to the band, the production is still on the way and the premiere is still scheduled to take place on February 25.

Yesterday, US media reported that the production preparations were stopped because producers failed to raise $35 million budget. However, U2 claimed that they have heard nothing about money problems, and that reports were not true.

The musical, named Spider-Man: Turn Off The Dark, is produced by Julie Taymor, who previously worked on Broadway’s Across The Universe and The Lion King. All music and lyrics for it were written by U2's singer Bono and guitarist The Edge.

U2 are currently on tour in support of this years’ disk No Line On The Horizon. After it, they are set to start recording their new album titled Songs Of Ascent.