Guillermo Del Toro is devastated after learning his movie Don’t Be Afraid Of The Dark has been put on indefinite hold because of ongoing problems at the Miramax film studio.

Producer Del Toro was preparing for the horror, starring Katie Holmes and Guy Pearce, to hit theatres in January and had already begun an advertising campaign.

But Disney executives have decided not to move forward with the release as they attempt to finalise the sale of subsidiary company Miramax, the firm behind Don’t Be Afraid Of The Dark.

And Del Toro admits he’s upset over the decision – because it means he will have to wait even longer for its release.

He tells the Los Angeles Times, “It’s been 13 years trying to make this movie, and we finally make it. It’s quite shocking. I am trying to see the silver lining in this.”

Del Toro will have to wait until bosses at Filmyard Holdings, who purchased Miramax in July, complete the sale. The deal is expected to be finalised at the end of the year.