While Twentieth Century Fox and Marvel Studios have not released a statement, it looks to be official. The Daredevil movie rights are reverting to Disney/Marvel Studios after Fox's extension request was rejected, says Variety. Fox was supposed to have the reboot in production by October 10th.

The news comes after director Joe Carnahan's tweets last night that said his "idea for a certain retro, red-suited, Serpico-styled superhero went up in smoke today kids."

Carnahan continued talking about the film today on Twitter and asked if fans wanted to see his sizzle piece that he presented to Fox. He said, "DD pitch was tremendous and everyone flipped for it. The clock ticked down at Fox, that's why it went t*ts up."

He posted two versions of the sizzle piece, an NC-17 and a PG-13 version, and you can watch both below.