'Star Wars Episode 7' Release Date: Script Will Be Finished by January; Budget to Be $200 Million

The script for the upcoming "Star Wars: Episode VII" will be finished in January, according to reports.

The script and its development have been major hurdles for the film's production. The script was originally started by Academy Award winner Michael Arndt. However, a few months ago, it was announced that Arndt would be replaced by director J.J. Abrams and "Star Wars" vet Lawrence Kasdan. Initial reports speculated that Arndt's draft was not to Abrams' liking, but it was later revealed that the change in writers was necessary to speed up the process and add a fresh perspective on the story.

Many felt that if the script was not finished by January, then production and the release date would undoubtedly be delayed. However, Variety journalist Marc Graser recently tweeted: "Disney expects to get script for Star Wars 7 in January. No budget for movie although studio wouldn't be surprised if it costs $200 million."

If the budget is as high as is noted, than it would be the most expensive "Star Wars" movie to date. "Episode I: The Phantom Menace" reportedly cost $115 million while "Episode II: Attack of the Clones" also cost the same amount. "Episode III: Revenge of the Sith" is reported to have cost $113 million. Of course, those films were produced between 1995 and 2005 and costs for were a lot lower then. Presently, it is normal for Hollywood films to cost between $150 million and $200 million.

"Star Wars: Episode VII" is still expected to launch in late 2015, but any more issues could the delay the film further.