Disney Cancels Plans for 'Tron 3'; Jared Leto Initially Asked to Join Cast

Olivia Wilde on the 'Tron: Legacy' panel at the San Diego Comic Con

Walt Disney Pictures created a loud buzz this weekend after reportedly cancelling its plans for "Tron 3.' According to sources, the studio has chosen not to push through with the third installment of the sci-fi series.

Although the project had not been officially given the green light, "Tron 3' seemed to be on the priority list of the studio as "Tron: Legacy' director Joseph Kosinski was reportedly returning to helm the third film. Moreover, stars Olivia Wilde and Garrett Hedlund were being expected to reprise their roles.

With Disney beginning to round out its preparations to begin "Tron 3', fans looked forward to the start of its production in Vancouver, British Columbia this fall. Even Academy Award-winner Jared Leto was reportedly being added to the cast, although there have been no announcements of an actual negotiation with the actor.

Disney has been known to be planning a sequel to "Tron: Legacy' since the film, with its $170 million budget, raked in $400 million in the global box office.

"Legacy' was the follow-up movie to the sci-fi movie released in 1982 that took place within a computer word called the Grid and in which Jeff Bridges and Bruce Boxleitner played leading roles.

The film reached out to a large number of viewers worldwide and became a significant influence on pop culture.

Years later, Disney reopened the world of the Grid and developed "Legacy', which focused on the son (Hedlund) of the videogame developer character portrayed by Bridges. Sam went into the Grid to find his father and met the fearless warrior Quorra, played by Wilde.

With the studio's recently released movies that incorporated live-action properties, Disney attained strong success with this year's "Cinderella', which has already pulled in $527.4 million in the global box office.

However, the studio found it a challenge to follow such figures when it released the $180 million live-action movie "Tomorrowland', which had a less satisfactory performance as it debuted with $33 million at the box office.

Nonetheless, Disney has filled its live-action movie plate for the next few years, particularly with a number of live-action adaptations of many of its classic animated tales, such as "The Jungle Book', "Alice: Through the Looking Glass' and "Beauty and the Beast.'