UPDATES EXCLUSIVE: 'Spider-Man 4' Officially Has No Start Date As Of Today Because Of Script Problems; Sony "Unlikely" To Make Scheduled May 5, 2011, Release Date 

BREAKING NEWS! 3RD UPDATE: Tobey Maguire just released this statement to me: “I am so proud of what we accomplished with the Spider-Man franchise over the last decade. Beyond the films themselves I have formed some deep and lasting friendships. I am excited to see the next chapter unfold in this incredible story.”  

2ND UPDATE: Mike Fleming and Nikki Finke have just confirmed that Sony Pictures decided today to reboot the Spider-Man franchise after franchise director Sam Raimi pulled out of Spider-Man 4 because he felt he couldn't make its summer release date and keep the film's creative integrity. This means that Raimi and the cast including star Tobey Maguire are out. There will be no Spider-Man 4. Instead, Mike Fleming is told, the studio will focus on a Summer 2012 reboot from a script by Jamie Vanderbilt with a new director and a new cast. All this took place today at meeting on the lot today.