Only two weeks ago, Walt Disney Pictures hired Karl Gajdusek (Trespass) to rewrite William Monahan‘s (The Departed) draft of the script for the big-screen adaptation of Joseph Kosinski‘s graphic novel entitled Oblivion., and the project was also renamed from Oblivion to Horizons.

Now, Variety reports that Walt Disney Pictures has decided not to move forward with the adaptation, leaving Joseph Kosinski and Radical Publishing the ability to shop the project to other studios and producers.

Oblivion is set on a future Earth that has been polluted to the point of inhabitability. What’s left of the human race lives above the clouds, safe from alien scavengers that dwell in the ruins of a once thriving race. The story revolves around a repairman named Jak who finds himself on a life-altering adventure after he discovers a mysterious woman in a crashed pod.

Oblivion was created by Joseph Kosinski, written by Arvid Nelson & Andree Wallin. The film was slated to hit theaters in 2012.