Batman VS Superman (2004)

Batman Vs. Superman is a DC Comics film that was scheduled to be released in 2004 and was based on Batman Beyond. The film was written by Andrew Kevin Walker and Akiva Goldsman (who did Batman Forever and Batman & Robin) and was going to be directed by Wolfgang Peterson (who did Air Force One).

Plot
Lex Luthor manipulates a fight between Batman and Superman.

Why It Was Cancelled
The cancellation reasons are currently unknown. The most likely reason is because the crew was thinking that the original draft of the film was poorly written.

Result

 * In 2016, Warner Brothers released Batman vs. Superman to the big screen and got mostly mixed to negative reviews from critics, audiences enjoyed it.