Tobey Maguire will not be returning as Spider-Man for the fourth installment of the film franchise.

The film based on the web-slinging superhero hits cinemas in 2012 but studio officials say Maguire and director Sam Raimi will not be involved in Spider-Man 4.

The announcement comes after weeks of rumours swirling around Hollywood citing creative differences between Raimi and studio chiefs over the script being prepared for the film.

Columbia Pictures and Marvel Studios said they would proceed with a script written by James Vanderbilt in which hero Peter Parker returns to high school.

Spider-Man 4, with a different script and Raimi directing, had initially been set for release in 2011 but had not gone into production.

"A decade ago we set out on this journey with Sam Raimi and Tobey Maguire and together we made three Spider-Man films that set a new bar for the genre," said Amy Pascal, co-chairman of Sony Pictures Entertainment.

"When we began, no-one ever imagined that we would make history at the box office, and now we have a rare opportunity to make history once again with this franchise," she said.

"Peter Parker as an ordinary young adult grappling with extraordinary powers has always been the foundation that has made this character so timeless and compelling for generations of fans," Pascal said.

"We`re very excited about the creative possibilities that come from returning to Peter`s roots..."

Raimi said in a statement that making the Spider-Man movies "was the experience of a lifetime for me".

"While we were looking forward to doing a fourth one together, the studio and Marvel have a unique opportunity to take the franchise in a new direction, and I know they will do a terrific job," he said.
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