The project was scheduled to begin production this February, and was on a fast track under Dick Cook. But as you probably remember, Cook was shown the door a few months ago. Many of Disney's big projects seem to be left dangling as stars like Johnny Depp decide whether they're sailing or staying ashore. 20,000 Leagues Under the Sea: Captain Nemo is just the latest, though Disney insists big popcorn flicks will still be a focus for them.
Leagues had already been a revolving door of rumors, with Will Smith said to be in the running to play Nemo. Justin Marks was originally penning the script, but was replaced by Randall Wallace this past July. Variety reports that the project was being penned by Bill Marsilli, so presumably Wallace was off as well. While it's not unusual to have three screenwriters on a project, it doesn't sound like this submarine had a reliable captain. Perhaps the Nautilus will sail again as a proper steampunk picture that explores his romantic Indian past, and not a slapdash summerfest.