The Book of Life (DreamWorks)

DreamWorks initially optioned to make The Book of Life back in 2007.

Why It Was Cancelled

 * 1) Dreamworks decided not to continue with the project due to "creative differences" with the director.
 * 2) Reel FX Animation Studios bought the license to the movie and was released in 2014.

Results
The film was eventually made at Reel FX Creative Studios and was released in Fall 2014 and received critical praise.