These contracts were signed back in 1998. I remember being in Pittsburgh on a consulting job, and the news was flush about Burton being in town scoping out locations to substitute Pittsburgh as Metropolis.
The deal fell apart, and Cage and Burton both got paid anyhow (upwards of $25 million for both, if the scuttlebutt is true.)
That is essentially true. Cage got a $20 million pay-or-play paycheck, meaning that if the project never got filmed, he still got paid. Burton got paid $5 million in a similar pay-or-play deal, and another $5 million was spent on pre-production, art production, location scouting, etc.So all in all, $30 million was spent and not one frame of film was shot. Thank goodness the film never got off the ground and into production.
Even more so, and I promise I'm not making this up, one evening back in '98 I heard a radio broadcast of a news report which stated, "Courteney Cox has been tapped to play Lois Lane opposite Nicolas Cage in the upcoming Superman film currently in production." So even back then it had already been mentioned that Cox was in the running for Lois Lane.
Even more, it had been suggested that Danny Elfman was going to do the music for the film. Thank goodness that didn't happen either.