As John LeMay discusses in his Kong Unmade book, the Heisei King Kong vs. Godzilla remake fell

As John LeMay discusses in his Kong Unmade book, the Heisei King Kong vs. Godzilla remake fell through because Toho could not come to an agreement with Turner Entertainment for the use of the character of King Kong. Toho evidently mistakenly believed Turner owned Kong, even though the company only held the rights to the 1933 film. As you can see, Turner is credited here for the character of Kong on the tag for this 1993 Bandai figure of the monster.