The legendary director has spent the last six months developing the project, reportedly asking Tom Hanks to take on the part of Elwood P. Dowd, the character made famous by Stewart in the original 1950 film.
Hanks is said to have turned the project down, along with second choice actor Robert Downey Jr., according to Variety.
And after further problems with the script, Spielberg finally announced his departure this week (beg30Nov09).
A spokesman confirmed Spielberg has quit the project, but didn't reveal the reasons behind his exit.
Executives at the Fox 2000 studio will reportedly continue work on Harvey.
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