AceShowbiz -

There had been several reports saying that Disney's "Tron Legacy" sequel had been moving forward. However, The Hollywood Reporter broke the news that Disney canceled the movie due to the studio's crowded schedule.

Words are, Disney finds it hard to get a spot for the movie on its crowded slate as the studio is currently developing numerous projects such as "Pirates of the Caribbean: Dead Men Tell No Tales", "Pete's Dragon" and "Beauty and the Beast (2017)". "We had never greenlit the movie, but it was in development for some time," said one of Disney executives, discussing the unfortunate decision for the project. "Things in the queue got ahead of it and we have such a big slate out in front of it, we started to think, 'Where does it go?' And it's a pretty big investment to make if you are not even sure when you are going to release it."

Stars Olivia Wilde and Garrett Hedlund were initially set to reprise their "Tron Legacy" roles, with director Joseph Kosinski on board to direct. "Tron 3" was also scheduled to start filming in Vancouver on October 5.

The 1982 original film focused on the life of a computer hacker who was abducted into a digital universe and conscripted into gladiator-style games. It starred Jeff Bridges, Bruce Boxleitner and Cindy Morgan.