The new Harry Potter film series "Fantastic Beasts and Where to Find Them" cancelled

Only months after the spellbinding announcement that the Harry Potter spin-off "Fantastic Beasts and Where to Find Them" would be hitting the big screens in 2016, Warner Bros pulls the project. Muggles worldwide rejoiced this March, as Warner Bros announced that the magic of the Harry Potter Universe would be returning to cinemas - in only two years. The new films were supposed to tell the story of the Wizarding World's very own Carl Linnaeus, Newt Scamander, a "magizoologist" who travelled the world cataloging magical creatures - and where to find them. Today however, is a heavy day for Harry Potter fans - this morning, Warner Bros officially announced that they're dropping the Wizarding project, for good. In a press release, sent to all major newspapers this morning, this is what the company had to say: - After months of deliberation, we have decided to cancel the upcoming Harry Potter project. We are very saddened by how things ultimately unfolded, and we apologize for getting people's hopes up, but we simply cannot prioritize a new Harry Potter trilogy in today's economy. Unless another studio picks up the project, we won't see "Fantastic Beasts and Where to Find Them" anytime soon.

JK Rowling hasn't commented the cancellation, but is expected to do so within the coming week. To discuss this story, tweet under #FantasticBeastsCancelled