Disney has scrapped plans for a third installment of the sci-fi series "Tron 3" starring Olivia Wilde.

According to The Hollywood Reporter, the project was never officially greenlit, but those in the know had long believed its production was a done deal after stars Wilde and Garret Hedlund had seemingly agreed to reprise their roles.

Reports are the executives even approached Jared Leto about joining the cast, though a formal offer and formal contract talks never truly started. Talk of Disney looking to keep the series going and developing a sequel to "Tron: Legacy," which made $170 million at the box office and grossed some $400 million worldwide, had spiraled.

"Legacy" was the sequel to the 1982 sci-fi adventure that featured Jeff Bridges and Bruce Boxleitner at the center of the computer world known as the Grid. The film instantly drew a cult-like following and also became a notable influence on filmmakers and pop culture.

Decades later, Disney brought the series back with "Legacy," an adventure where the premise focuses on a computer-programmer played by Hedlund who happens to be Bridges' son and is desperate to bring his father back--- even if it means venturing into the Grid himself.

Wilde starred in the movie as Quorra, an algorithm-made-flesh who also happened to kick butt.

The Hollywood Reporter adds Disney has had strong success with its live-action properties recently, including "Maleficent" and this year's "Cinderella," which earned in access of $525 million worldwide.

Beyond that, the company's live-action tentpole calendar is described as "pretty full for the next few years," with live-action versions of many of its animated classics in the works, among them "The Jungle Book," "Alice in Wonderland: Through the Looking Glass" and "Beauty and the Beast."