The film, which starts production in April, will cost an estimated £170 million ($308 million), reports the Sunday Mail. That's £5 million ($10 million) more than the entire Lord of the Rings series.
Newell commented that directing a Potter picture carried huge responsibilities:
"I think of myself as being really lucky. I'm going to make the most expensive film there has ever been. These things are not like ordinary films they are world events. I have millions of 10-year-olds who must not be disappointed. Making Harry Potter is like being President of Brazil. It is a colossal undertaking."
Newell also commented that finding an eight-foot-tall French woman to play Hagrid's love interest, Madame Maxime, has caused him a giant-sized headache.
"We are casting right now. I've been in Paris, looking for giant women and French schoolgirls."
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