We’ve got some pretty disappointing news floating around out there today about what is surely one of the most anticipated movies of the year for many. Martin Scorsese’s upcoming film The Wolf of Wall Street is currently scheduled for release on Nov. 15th, and up until now we had no reason to believe that release date would change. A trailer was released back in June and everything seemed to be on track. However, word on the street is that Scorsese just recently turned in a three-hour cut of the movie and it is still in need of some serious trimming. The issue is not just the length of the film, either; there is also talk that some of the scenes might bring about an NC-17 rating. Either way, it seems unlikely that the movie will hit its November release date, which means it probably won’t be a part of this year’s Oscar race. But when will we be able to see it?

According to THR, Paramount is still hoping to have The Wolf of Wall Street ready in time for a Christmas Day release. That would still potentially allow it to qualify for an awards run, but it would mean that Paramount would have to push their upcoming Jack Ryan reboot back to 2014. A conflicting report from Showbiz 411, however, is indicating that The Wolf may end up getting pushed to 2014 instead.

Some may remember that a similar delay happened with Scorsese’s Shutter Island which ended up getting moved from Oct. 2009 to Feb. 2010. The result was that the movie made almost $130 million domestically although it didn’t get any Oscar nominations either. Granted, there was less chance of that happening for Shutter Island anyway because it was a genre movie. Either way, this year’s Oscar season is already looking pretty crowded so it might be in their best interest to wait. All we can do is hope that the movie doesn’t get pushed back to next November. Are you disappointed that The Wolf of Wall Street might be delayed? How do you think they should deal with this issue?