Disney has announced that it is backing out of Johnny Depp’s “The Lone Ranger.” There has been no official statement from Disney as to why they have decided not to move forward with the project but rumor has it that the budget for the Jerry Bruckheimer produced movie was more than what Disney wanted to spend. Depp was really looking forward to “The Lone Ranger” regardless of the flop that was “Cowboys and Aliens.” Maybe Disney canceled their involvement in the movies since cowboy themed movies seem to be failing and fading away. Depp and crew are either going to cut the budget and represent it to Disney or take their project elsewhere. Read more about “The Lone Ranger” after the jump. @Julie1205