Rumors are just breaking that Sam Raimi has pulled out of directing Spider-Man 4, and with him goes Tobey Maguire and the rest of the cast.

Nikki Finke is reporting that at a meeting on the Sony Studios lot this morning, it was announced that Sam Raimi has left the production of Spider-Man 4, and with his departure the movie is officially dead.  Instead of moving forward with the series under the helm of a different director, Sony has opted to start the whole series over … yes folks, Spider-Man is getting a reboot.

Instead of trying to work out creative differences with Mr. Raimi, Sony is just going to start the whole series over again with a new cast, a different director at the helm, and this means we will get to see the same blaster stories over again.  Oh, joy … another retelling of the spider biting Peter Parker!  HUZZAH!

We get to fight the Green Goblin again!  HUZZAH!

We get to fight Doctor Octopus again!  HUZZAH!

Ugh … my brain already hurts.  Sony had the world on a platter with this series, and because they couldn’t just let Mr. Raimi do things they way he wanted to, which proved successful with the first two films, now we lose all the ground work that has been laid out over three films.  I guess we’ll never see Dr. Conners turn into The Lizard now.

Sony … you suck.

An official statement is expected from Sony fairly soon.  You do have to wonder how Sony arrived at the plan for a reboot this quickly when the fourth film was only put on hold last week.

UPDATE: It’s official, here’s the press release.

Peter Parker is going back to high school when the next Spider-Man hits theaters in the summer of 2012.

Columbia Pictures and Marvel Studios announced today they are moving forward with a film based on a script by James Vanderbilt that focuses on a teenager grappling with both contemporary human problems and amazing super-human crises.

The new chapter in the “Spider-Man” franchise produced by Columbia, Marvel Studios and Avi Arad and Laura Ziskin, will have a new cast and filmmaking team. Spider-Man 4 was to have been released in 2011, but had not yet gone into production.

“A decade ago we set out on this journey with Sam Raimi and Tobey Maguire and together we made three ‘Spider-Man’ films that set a new bar for the genre. When we began, no one ever imagined that we would make history at the box-office and now we have a rare opportunity to make history once again with this franchise. Peter Parker as an ordinary young adult grappling with extraordinary powers has always been the foundation that has made this character so timeless and compelling for generations of fans. We’re very excited about the creative possibilities that come from returning to Peter’s roots and we look forward to working once again with Marvel Studios, Avi Arad and Laura Ziskin on this new beginning,” said Amy Pascal, co-chairman of Sony Pictures Entertainment.

“Working on the ‘Spider-Man’ movies was the experience of a lifetime for me. While we were looking forward to doing a fourth one together, the studio and Marvel have a unique opportunity to take the franchise in a new direction, and I know they will do a terrific job,” said Sam Raimi.

“We have had a once-in-a-lifetime collaboration and friendship with Sam and Tobey and they have given us their best for the better part of the last decade. This is a bittersweet moment for us because while it is hard to imagine Spider-Man in anyone else’s hands, I know that this was a day that was inevitable,” said Matt Tolmach, president of Columbia Pictures, who has served as the studio’s chief production executive since the beginning of the franchise. “Now everything begins anew, and that’s got us all tremendously excited about what comes next. Under the continuing supervision of Avi and Laura, we have a clear vision for the future of Spider-Man and can’t wait to share this exciting new direction with audiences in 2012.”

“‘Spider-Man’ will always be an important franchise for Sony Pictures and a fresh start like this is a responsibility that we all take very seriously,” said Michael Lynton, Chairman and CEO of Sony Pictures. “We have always believed that story comes first and story guides the direction of these films and as we move onto the next chapter, we will stay true to that principle and will do so with the highest respect for the source material and the fans and moviegoers who deserve nothing but the best when it comes to bringing these stories and characters to life on the big screen.”

The studio will have more news about Spider-Man in 2012 in the coming weeks as it prepares for production of the film.