Word has hit the street that Sony has put the kibosh on Spider-Man 4, releasing director Sam Raimi, star Tobey Maguire and the rest of the existing Spidey cast from all future contractual obligations to the Spidey franchise. So instead of one more go-round with Maguire, Dunst and company under Raimi’s direction, Sony will back-peddle and allow a new director and cast to start over.

Considering the vast success of the first three Spider-Man films, it’s unlikely the new franchise will attempt to retell Spider-Man’s origin story, which took up much of the first film, but an early version of the prospective script, penned at this point by Jamie Vanderbilt, will toss Peter back to his high school years and cover territory missed between Spider-Man and Spider-Man 2. However, any rumors that Parker’s biggest enemy in the new flick will be severe acne are patently untrue.

Sony is currently touting director Marc Webb, whose biggest achievement to date is (500) Days of Summer, a rom-com that was barely a box office blip a few months ago. However, the studio liked his ability to capture the angst of youth, which is a major player in the teenage Peter Parker’s life.

No word on whether some supporting actors, like J.K. Simmons, who played J. Jonah Jameson to a “T,” will reprise his role in the reboot, but he’s one bit player who I’d love to see return and would be hard to replace.

Of course, there are any number of young actors in Hollywood who could take on the roll, and they need to look about 15 years old at the time the Spidey reboot launches in 2012 – one year later than Spider-Man 4 was set to debut. That means kids who are no older than 16 or 17 right now, at most. One prominent name that springs to mind for the role of Peter Parker is current Glee cast member Kevin McHale, who plays wheelchair-bound Artie on Glee. However, McHale is already 22 right now and will only look older in two years. Plus he’s contractually bound to Glee.

I’m sure Webb or whoever eventually wins the reigns of the franchise will find apt replacements; the other big change to the franchise is that Sony wants the Spider-Man reboot to be done completely in Avatar-esque 3D… meaning your friendly neighborhood wallcrawler will be swinging right at you in a couple years’ time.