MOVIE NEWS …
EXIT SPIDERMAN 4
Columbia Pictures has pulled the plug on "Spider Man 4" and will instead make a younger, cheaper installment of the superhero franchise.
Star Tobey Maguire and helmer Sam Raimi, who were both set for big paydays for "Spider Man 4," will no longer be involved in the franchise as Col moves forward with a high school-aged Peter Parker pic, which will bow theatrically in summer 2012.
Last week, Columbia confirmed that "Spider Man 4," which was scheduled to begin lensing in February and be released in 2011, was on hold indefinitely due to script problems. Columbia needs to continue actively developing "Spider Man" films or else the property will revert back to Disney/Marvel.