Sad news, “Mortal Instruments” fans. Screen Gems, the studio set to produce the big-screen adaptation of Cassandra Clare’s urban fantasy, has untethered itself from the project, according to The Hollywood Reporter.

Starring Lily Collins and Jamie Campbell Bower, all signs pointed to a 2012 production date for the film, with “Priest” director Scott Stewart at the helm. “Pretty Little Liars” writer I. Marlene King had penned a revised version of the script, which she handed into the brass at Sony (Screen Gems’ parent company) last fall. Scott has since left the project to work on the TV version of the studio’s flick “Legion.”

What this means for “The Mortal Instruments” movie is still unclear. According to THR, Constantin Film, which owns the rights, could seek funding elsewhere or fund the project themselves.

Set in New York City, “The Mortal Instruments” follows teen Clary Fray as she discovers her family’s roots as half-human, half-angel demon slayers known as Shadowhunters.

Update: Thank you to several readers who pointed out this post from author Cassandra Clare explaining what this news means for the movie. In a nutshell:

“Really, this makes no difference to anything. I know words like ‘dropped’ sound shocking and horrifying but in this context, it doesn’t mean much. I talked to Constantin last week and actually gave them a list of actors I liked for Simon (because why not?), and they gave me a schedule they expected to start filming by (August.)”

Source : MTV