The wraparound involving the segments being movie pitches was replaced in the UK Alternate Cut Version, released on the UK Blu-Ray, with an alternate wraparound about two teenagers and an 11-year-old trying to find the most banned movie in the world.
Just to clarify the matter: there is a 1h 30m (90 min) version, which has the premise of an unsuccessful writer trying to pitch his ideas, and there is a 1h 34m (94 min) cut, which has as its premise three teens searching for a banned movie.