<EM>King Kong</EM> King Kong

Universal Pictures has agreed to release a three-hour cut of Academy Award-winning director Peter Jackson's King Kong, effectively ballooning the effects-heavy epic's budget to $207 million, Variety reports. Since Kong was originally envisioned as a two-and-a-half-hour, $175-million endeavor (due for a Dec. 14 premiere), Jackson will cover much of the added $32 million in expenses out of his own pocket which is bananas, I tell you! Oops, what's that fast-approaching thumping sound...?!