Relativity Media has dropped out of development of the film based on Hasbro's "Stretch Armstrong" toy.
The toy, a 13-inch, blond-haired muscled figure whose limbs could be stretched to nearly four feet, was launched by Kenner in the '70s.
Disney had a go at a film adaptation starring Jackie Chan in 1998, but it never got it past the development stage. Universal was subjected to the same problem with their Taylor Lautner-led version in 2008.
Relativity picked up the rights after Universal dumped them, with Breck Eisner ("Sahara," "The Crazies") in negotiations to direct as of last Summer.
Now, Relativity is skipping this toy but claims they have a "tremendous relationship" with Hasbro and have "decided to focus on other projects. We look forward to continuing to work together."