Disney budgeting for 'Caribbean', 'Alamo'

"Lord of the Rings" star Orlando Bloom is trading his elvin archer's bow for a swashbuckler's cutlass.

Bloom has been set to co-star alongside Johnny Depp and Geoffrey Rush in "Pirates of the Caribbean," the Gore Verbinski-directed adventure pic for Walt Disney Pictures and producer Jerry Bruckheimer.

Bloom, who reprises his role as Legolas in the next "Rings" installment, "The Two Towers," plays the role of Will Turner, who teams up with the swashbucking Capt. Jack Sparrow (Depp) to rescue the governor's daughter when she is kidnapped by pirates.

Brit thesp Tom Wilkinson is in talks to play the role of the governor.

The film, which was scripted by Jay Wolpert, is now on a course to set sail Oct. 9. Pic weathered stormy seas as Disney brass scrutinized its budget along with that of "The Alamo."

While that historical pic is being reconfigured to cost considerably less with John Lee Hancock at the helm, the studio and Bruckheimer came to terms on costs for "Pirates of the Caribbean." The pic is inspired by the venerable Disney theme park ride and thought to have franchise potential.