According to Deadline Hollywood, Disney+ is not moving forward with its plans to stream a live-action television series based on Tony DiTerlizzi and Holly Black's series of children's fantasy books, The Spiderwick Chronicles.
The good news is that Paramount is the actual studio behind the production and that they've already filmed all 8-episodes for the series. Disney had merely agreed to distribute the show on its Disney+ streaming platform.
Now that Disney has backed out, Paramount is planning to shop the project to other potential suitors.
Christian Slater, headlines the series as the villainous ogre, Mulgarath. The show also stars Jack Dylan Grazer as Thimbletack, Lyon Daniels as Jared Grace, Noah Cottrell as Simon Grace, Joy Bryant as Helen Grace, and Mychala Lee as Mallory Grace.
Deadline reports that Disney's decision to reverse course on the project stems from its change in philosophy to focus on profitability for its new streaming platform instead of on growth and expansion. As a result, several TV series have been canceled and Bob Iger also recently stated that the company will be cutting back on the number of Marvel and Star Wars television programs produced for the streamer.
Recently, Disney also decided to not only cancel its Willow TV sequel but also remove it from the streaming platform altogether in a cost-cutting move.
The Spiderwick Chronicles television series was first announced as airing on Disney+ back in November 2021.
Paramount previously produced a 2008 live-action film adaptation that starred Freddie Highmore, Martin Short, Sarah Bolger, Seth Rogen and Nick Nolte.
After finding a mysterious, handmade field guide in the attic of the ramshackle old mansion they’ve just moved into, Jared; his twin brother, Simon; and their older sister, Mallory, discover that there’s a magical and maybe dangerous world existing parallel to our own—the world of faerie.
The Grace children want to share their story, but the faeries will do everything possible to stop them...