Deadline points out that an issue over the rating of a planned big budget film, Guillermo del Toro's planned adaptation of H.P. Lovecraft's In the Mountains of Madness (starring Tom Cruise!), prevented the entire project from getting made.
Just a few days ago, the surprising news emerged that Quentin Tarantino - a man more usually know for chatty criminals, nostalgic music cues and splashes of blood - had come up with an idea for a Star Trek movie, one he'd pitched to Paramount and JJ Abrams and they'd accepted. An R-rating would be a franchise first and a rarity for tentpoles, but with the recent success of Deadpoool and Logan, this seems like something Paramount execs are open to trying with the Trek franchise.
The report also says screenwriters Mark L. Smith (The Revenant), Lindsey Beer (the upcoming Kingkiller Chronicle), and Drew Pearce (Mission: Impossible - Rogue Nation) are in the running to pen the script, with Smith as the apparent frontrunner. Writers J.D. Payne and Patrick McKay were originally pegged to draft a Star Trek 4 that involved Chris Hemsworth's return as Kirk's father George, but that appears to be in limbo. I have a hard time believing it, so my guess is A. Tarantino simply produces and/or gets a "Story By" credit and someone else directs this movie or B. Tarantino makes one more original movie after Trek. And given that this may be his last film as a director (he's long claimed that he'll retire after his 10th work, which, assuming that his Manson project is completed before he tackles Trek, the space odyssey will be), it's odd that he'd want to go out as a gun-for-hire.
Tarantino has never taken on a franchise in the film world before, and his involvement is Trek is tentative.
Movie studios typically see R ratings as a drag on ticket sales because they exclude teenagers, which is why movies in tent pole franchises like "Star Trek" and "Star Wars" are nearly universally rated PG or PG-13. He is now working on a film about the Manson family due in theaters in August of 2019.
Tarantino is still hoping to be the director since he's a huge Star Trek fan himself.