This just in: Disney has decided to scrap its live-action series based on the best-selling series The Spiderwick Chronicles.

Per Deadline, the planned 6-episode series had already completed filming.

Paramount Television Studios and 20th Television, who both are producing the series are reportedly shopping the series elsewhere.

The decision comes as almost all media companies have decided to re-evalutate their content catalogs and work to find new ways to turn a profit during the Hollywood strikes.

Deadline also says that the series could wind up being written off for the company’s taxes. If that’s the case, there’s a chance it may never see the light of day.

This is a breaking story. We’ll update this story with more details as they become available.

SOURCE: Deadline