Kevin Costner's 'Horizon 2' August theatrical release canceled after first film's disappointing earnings

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The sequel to Kevin Costner's 'Horizon' film will not release in theaters as planned on Aug. 16. The first film will continue to play in theaters and will be available at home on July 16.

Kevin Costner's 'Horizon: An American Saga – Chapter 2' will not be following its original plan of debuting in theaters on Aug. 16. Fox News Digital confirmed that Territory Pictures and New Line Cinema opted to delay the release of the second 'Horizon' film in 'order to give audiences a greater opportunity to discover the first installment of Horizon over the coming weeks, including on PVOD and Max.

On Wednesday, Costner took to Instagram and shared clips from his 1985 film, 'Silverado,' while addressing his new Western film series. '39 years ago today we released Silverado into the world. It was a dream come true for me to be in a Western movie, and to have Lawrence Kasdan at the helm was the cherry on top,' Costner's caption began.

Costner's Territory Pictures also shared a statement with Fox News Digital: 'The audience response to Horizon, and enthusiasm for seeing our story continue in Horizon 2, has been incredibly gratifying. Kevin made this film for people who love movies and who wanted to go on a journey.

The Associated Press contributed to this report.

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