George P. Cosmatos died of lung cancer on 19 April 2005, at his home in Victoria, British Columbia at the age of 64. He was survived by one son, Panos Cosmatos, who has said that his independently released surreal film "Beyond the Black Rainbow" was funded primarily by royalties from his father's film "Tombstone". Panos would later go on become a director in his own right, working primarily in the horror genre, where he is noted for the surreal atmosphere of his films.