Disney+ has decided to pull the plug on its upcoming and much anticipated Spiderwick Chronicles series.
The decision follows a rash of similar recent cancelations this summer, as Disney cleans house as part of a major cost-cutting exercise.
Among those other titles not returning are Willow, Big Shot, National Treasure: Edge of History, The Mighty Ducks: Game Changers, The Mysterious Benedict Society, and Doogie Kamealoha, M.D.
The streamer originally ordered 6 episodes in November of 2021, based on the famous Spiderwick Chronicles book series by Tony DiTerlizzi and Holly Black.
Described as a a modern coming-of-age story/ fantasy adventure, the series follows the Grace family (twins Jared and Simon, their sister Mallory, and mother Helen) as they move into their dilapidated ancestral home and began to unravel a dark mystery about their great-great uncle who discovered a secret and foreboding faerie world parallel to their own.
However with all 6 episodes completed producers Paramount Television Studios and 20th Television are shopping the potential series elsewhere, according to a report from Deadline.
Although passing on an already completed series may sound illogical to some, the decision comes as Disney strives to lean into its own intellectual properties moving forward. (The Spiderwick Chronicles is neither a Disney entity, nor is it produced in house, making it a costlier proposition under the streamer’s new business model.)
“We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation,” Disney CFO Christine McCarthy said in a statement. “As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion.”
The potential new series stars Christian Slater, Hunter Dillon, Jack Dylan Grazer, Alyvia Alyn Lind, Noah Cottrell, Lyon Daniels, Mychala Lee, and Joy Bryant.
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