DEREZZED: Disney Kills TRON 3

It's the end of the line for Tron. Disney has canceled its plans for a third installment of the franchise, The Hollywood Reporter wrote on Friday night.

The news is surprising, as the movie (allegedly titled Tron: Ascension) had been moving through production. Tron: Legacy director Joseph Kosinski was returning to helm the sequel, as were stars Garrett Hedlund and Olivia Wilde. Shooting was scheduled to begin in the fall. According to TheWrap, Kosinski was even in talks with Jared Leto and Olivia Munn to join the cast.

A lot of sites are reporting that Disney's decision to kill Tron 3 came after Tomorrowland opened to a disappointing $33 million last weekend. The studio's live-action schedule is pretty heavy with adaptations of its classic animated films, but original movies haven't performed as well for Disney. (This doesn't include movies from Disney's Marvel and Lucasfilm brands.)

The cancelation of Tron 3 is disappointing. Tron: Legacy had a lot of great ideas and stunning visuals — I really wanted to see what Kosinski could build off that movie in a sequel. When it all comes down to it, this is a business. If Disney thinks a third Tron movie is a poor business decision, that's up to them. Just don't tell me that while you're letting Tim Burton make a live-action version of Dumbo.