One mega-budgeted pic like “The Abyss” was...

One mega-budgeted pic like “The Abyss” was apparently enough for Fox: The studio has sent “Watchmen” into turnaround. A rep for producer Joel Silver confirmed that the project, with a script by Sam Hamm (“Batman”) is now in search of a studio. Said the rep: “There was some trepidation, I think, at Fox over what this picture might cost.”

Based on the “Watchmen” comics series, the film is the latest from director Terry Gilliam, whose “The Adventures of Baron Munchausen” a soared to costs of nearly $50 million--and grossed only $8 million domestically.