Disney Beaches "Captain Nemo"

Disney has put “Captain Nemo: 20,000 Leagues Under the Sea” in dry dock.

The picture, tentatively scheduled to begin production in February, has been halted indefinitely, and McG is no longer steering the ship. 

The studio confirmed that the studio won’t proceed with the film for now, and reps for the director confirmed he has withdrawn. McG will concentrate on other projects that include “Dead Spy Running,” a Warner Bros. drama that Stephen Gaghan is writing. McG is also attached to “Terminator 5,” though that movie is on hold indefinitely as the Terminator franchise works its way through bankruptcy court. McG just teamed with “Borat” helmer Larry Charles on a new NBC comedy.

McG, who last directed “Terminator Salvation,” had been attached to “Captain Nemo: 20,000 Leagues Under the Sea” since last January. The Bill Marsilli-scripted pic is an origin story about how Nemo constructed his warship, the Nautilus. The studio made the original 1954 “20,000 Leagues Under the Sea,” as Disney’s first live action film. It won three Oscars and inspired a Disney theme park ride.

While names like Will Smith were rumored as possible stars, no cast was ever set. The project had been on a fast track under the Dick Cook regime. Studio sez event pics like "20,000 Leagues," "John Carter of Mars" and "Tron" are still priority under new chief Rich Ross.

Disney’s next big water-based shoot will likely be the fourth installment of “Pirates of the Caribbean.” Pic is expected to set sail in May, with Rob Marshall in talks to direct.