It was reported earlier this year (21) that the "Face/Off" star would portray the big cat collector in a scripted show based on the hugely popular Netflix docu-series and the Texas Monthly article "Joe Exotic: A Dark Journey Into the World of a Man Gone Wild", written by Leif Reigstad.
However, in an interview with Variety, Cage said that the planned programme had been scrapped.
"We should clear the record," he said. "I read two excellent scripts, which I did think were excellent, but I think Amazon ultimately felt that it was material that had become past tense because it took so long for it come together."
"They felt at one point that it was lightning in a bottle, but that point has since faded into the distance and it's no longer relevant."
The real Joe Exotic is currently serving a 22-year prison sentence for his role in a murder-for-hire plot against Carole Baskin. He recently asked former U.S. leader Donald Trump for an official pardon in his ongoing fight for freedom.
In response to the project, Baskin asked the actress not to use live animals, "We hope McKinnon has a passion for animals and that her series will focus on the horrible lives captive big cats lead when exploited by breeders like Joe Exotic. We further hope she urges the public to support the Big Cat Public Safety Act that would end the cub petting abuse in America."