... Disney has elected not to move forward with “Tron 3,” which was gearing up to start production this fall in Canada under the direction of Joseph Kosinski.
Garrett Hedlund and Olivia Wilde were slated to return to star and Kosinski had been courting Jared Leto and Olivia Munn to co-star in the big-budget sequel.
The cancellation of “Tron 3” comes on the heels of “Tomorrowland” underperforming at the box office last weekend. Brad Bird‘s original film cost Disney $180 million and grossed a disappointing $42.7 million over the four-day holiday weekend.
The original Tron had a lot of animation talent working on it. Bill Kroyer was heavily involved, Steve Lisberger conceived the original story and directed the live-action shoot, the Disney ink-and-paint department (along with the ink-and-paint crew at Cuckoo's Next Studio in Taiwan) completed a lot of the analog visual effects (no CG in the early eighties).
The studio, then led by former Disney publicity head Tom Wilhite, had high expectations for Tron, but it under-performed at the box office, overshadowed by Spielberg's E.T.. And that was pretty much it ... until Diz Co. dusted off the Tron concept and made itself a sequel, Tron: Legacy, released in 2010.
The second installment had a world-wide gross north of $400 million, but apparently that isn't enough to get the third movie off the ground. Ah well.