The “It” reboot has been tied to “True Detective” Season 1 director Cary Fukunaga for quite some time now. The classic Stephen King story got some hype when “We’re the Millers” actor, Will Poulter, was reportedly cast to play the role of the terrifying Pennywise the Clown.

Even Dan Lin, the producer of “It,” is happy with the direction Fukunaga is taking the movie.

“The idea is start official prep in March for a summer shoot in 2015,” Lin told Vulture last year. “Cary likes to develop things for a while. We have been with this for about three or four years. So, we are super excited that he stayed with it. You guys are gonna be really excited.”

Now, though, it would appear that production for “It” has been put on standstill, especially after Fukunaga opted to exit the project due to some issues with New Line Cinema. According to The Wrap, Fukunaga had wanted to film the reboot in New York, while New Line wanted to save some time and film in a less costly location.

Plus, New Line was reportedly more interested in making only one film for “It.” Having two parts for the story means that the first part will focus on the characters back when they were kids, while the second one will feature their return to the little town of Derry. That said, New Line was concerned that the predominant feature of child actors for the first installment might not be interesting enough for the adult demographic.

According to the film’s IMDb listing, the film’s production was supposed to start by June this year, and that it will be divided into two parts. The two-film adaptation could only mean that filmmakers have more time and film space to consolidate the key plot lines of the classic horror story. Without a director, though, it does not look like that schedule will be followed.

When Poulter was reportedly cast for Pennywise’s role, New Line was reportedly not 100 percent on-board with it, and had reportedly referred to the casting as “a gamble.”

Amid Fukunaga’s issues with New Line Cinema, the story’s creator, King, himself, had actually liked his take on “It.” “The response that Cary got back from King for ‘It’ script was, ‘Go with God, please!’” Lin revealed to Vulture. “'This is the version the studio should make!’ so that was really gratifying.” Sadly, as of the moment, there will no longer be a Fukunaga-directed “It” reboot.