"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.

Personally, I think this is lame. Yeah, Spidey 3 was convoluted and the worst film in the series, but that was just fuel for the creative fires for Sam Raimi and crew. I was really looking forward to seeing what they could do with a fourth film. I'm so tired of seeing the same stories played out year after year in reboots. When will the general public catch on that we are being scammed? So now we get to see the origin of Spiderman once again, and this time with more highschool drama! Bring on Zac Efron... in 3D! While I understand the studio wanting to milk this cash cow a little more, I just think we as the movie going public should be a little wiser in how we spend our ticket money. The Spiderman movies were some of the highest grossing films of all time. Is this the reward we get for supporting a franchise even through messes like Spiderman 3? Sony should have given Raimi what he needed, and in reward they would not only have a quality film, but perhaps another record setting film like Avatar. 

I call foul Sony. Unsportsmanlike Conduct.