Some new details are emerging from the fallout of yesterday's bombshell news that Spider-Man 4 is being dropped in favor of a reboot of the whole franchise. Entertainment Weekly is reporting that it seems Sony was planning on rebooting the franchise all along, although earlier than it had anticipated. Here's an excerpt from the article.

According to studio insiders, Sony was working on both Raimi's Spider-Man 4 and the new origin story from James Vanderbilt, who wrote Zodiac. The original plan was to keep the Spider-Man gang together for one last film in 2011 before rebooting the series in 2012. When it became clear that Raimi would not be able to make the summer 2011 release date planned for Spider-Man 4, the studio opted to scrap Spider-Man 4 altogether, and focus solely on the series reboot.
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Vanderbilt's remake script was also said to be a grittier take on Peter Parker's world.

This time around, the series will place Peter Parker in a more contemporary setting, as a teenager battling today's issues.

CLICK HERE to read the full article, including some speculation on who could possibly direct this reboot.