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Fast & Furious on Hold Following Walker's Death

NEW YORK (TheStreet) -- Universal Pictures, a division of cable-TV leader Comcast (CMCSA - Get Report), said Wednesday that it plans to stop production of Fast & Furious 7 to determine the future of the movie franchise following the death of actor Paul Walker.

Walker, 40, died on Saturday in a car crash in Santa Clarita, California.

Here's the Universal Pictures statement:

"Right now, all of us at Universal are dedicated to providing support to Paul's immediate family and our extended Fast & Furious family of cast, crew and filmmakers. At this time we feel it is our responsibility to shut down production on Fast & Furious 7 for a period of time so we can assess all options available to move forward with the franchise. We are committed to keeping Fast & Furious fans informed, and we will provide further information to them when we have it. Until then, we know they join us in mourning the passing of our dear friend Paul Walker."

Comcast shares were falling for a third day, dropping 0.4% to $48.59.

--Written by Leon Lazaroff in New York.

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