Conversation so far:
What was Barbra Streisand's involvement with Gypsy?
In January 2011, the New York Post reported that Barbra Streisand was in negotiations to produce, direct and star in a new film version of Gypsy
Did Barbra Streisand want the star role in Gypsy the film?
In an interview with the New York Post, Arthur Laurents said, We've talked about it a lot, and she knows what she's doing. She has my approval.“
What happened after the negotiations with Streisand for the Gypsy remake?
In a clarifying statement and report, The New York Times wrote that Streisand would star, but would not produce or direct.
Did the Gypsy remake continue being developed?
In March 2012, reports stated that Universal Pictures was pressing on with the new film.

Question: What was holding up the project?
Self-contained rewrite: What was holding up the Gypsy remake?