The Wrap has this news, which wasn't confirmed by Universal when the site reached out for comment. Earlier this week we reported that Tom Hardy was "nearing a deal" for the lead role of the Huntsman in the revisionist fairy tale. Though, now it seems that Hardy is instead focusing on his unknown role in The Dark Knight Rises, which starts shooting in April.
It is speculated that producers of Snow White and the Huntsman doubted they could land Johnny Depp, due to the number of projects currently on his plate. Because of this, they approached Hardy first. Now it seems they may be able to land Depp after all.
Production on Snow White and the Huntsman will begin in January, so we should know in the very near future who in fact will play the Huntsman.