Spider-Man 4 has been scrapped. The franchise director, Sam Raimi, wanted creative control, the studios didn't want to give it to him. Therefore they decided to scrap the project and fire the entire cast.
Fret not, Peter Parker will come back to theaters in 2012, but it won't be Spider-Man 4 and it won't have the same director.
When you consider everything, it cannot be the worst thing. A movie without Sam Raimi is better than a movie was a Sam Raimi on puppet strings.
It looks like Spider-Man is going to go back to high school for a franchise reboot. Read more at io9.
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