At the beginning of last year, we brought you the news when Terminator Salvation director McG entered into formal negotiations to direct the big-screen adaptation of the Hasbro toy Ouija for Universal Pictures and Michael Bay‘s production company, Platinum Dunes. The story penned by TRON: Legacy writers, Edward Kitsis and Adam Horowitz was described as a four-quadrant supernatural adventure centering around a family, with influences from The Mummy and Indiana Jones, and was slated to hit theaters on November 9th, 2012.

The following August, Universal Pictures dropped the project completely, because the studio was tightening their budget and Ouija was too expensive to produce.  Universal released Bay and McG to be shop the project to other studios, but at the time, even Paramount Pictures, the studio behind Bay’s Transformers franchise had passed on the project.

Now, Deadline reports that Universal is now reviving the project and has reconfigured the film to meet a lower budget. By lower, I mean from north of $100 million, down to $5 million. Along with the new budget, they’ll be looking for a new director as McG is reportedly not attached to this discount version.

Ouija is slated to hit theaters in 2013.