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 The New York Post has branded U2's Bono the "Captain of the Titanic" as he attempts to save the most expensive Broadway show in history ($65 million) from disaster.

On Wednesday Julie Taymor stepped down as director of the show and has been replaced by Philip William McKinley. Roberto Aguiree-Sacase, who writes the "Spider Man" comic books for Marvel is also joining the team.

Bono, who wrote the score of the musical with The Edge, and his new team is going to "rip the show apart from top to bottom." A production source told the NY Post "They're going to start from scratch."

Last night Bono met the cast and crew backstage. He told them that the changes would be "in the best interest of the show".

The show's previews started in November. It's now likely that the show will shut down at the end of April for four weeks, for a massive overhaul. It will then reopen in mid-to-late-June.

Bono has now taken on the role of the new face of the show. According to NY Post's sources he is planning to do a series of high-profile interviews to talk up the new version.

Taymor will no longer be listed as the show's director. She is best known for her smash hit musical "The Lion King" which earned $4.5 billion. However Bono began to lose faith in Taymor in December. This was the first time he admitted "he was not happy", said the source.

Sources say he put a distance between himself and the show as the show became the center of a media circus following staff injuries and unhappy cast members. In February after the show took a pounding from critics Bono realized that something drastic had to be done or this would be the most expensive failure on Broadway.

Last night the show had another embarrassment as an aerial stunt came to a halt. The Green Goblin suddenly stopped mid-air with Spider Man standing on the balcony ledge waiting to take off. Some audience members howled "Refund!"

Whether Bono and his team can save this show remains to be seen. The NY Post maintains that an "iceberg is still dead ahead".

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