Jon Favreau will not direct Iron Man 3 – UPDATE

Vulture reports that rate Favreau to direct Iron Man 3 would have been too high for Marvel and the studio began searching for a replacement last night. Favreau said recently that the history of Iron Man 3 (which has no script) would follow the events of Thor, Captain America: The First Avenger and The Avengers.A source also says vulture that Marvel may have been trying to dissuade Favreau for “promoting a vision blurred and packaging of the third film.” In sad news, but not surprising, Jon Favreau will not return to direct Iron Man 3. His departure from the franchise makes sense in terms of the problems reported among Favreau and Marvel over his salary for Iron Man 2 and creative control over the film.
Hit the jump for more. Iron Man 3 is currently the May 3, 2013. Favreau’s new film, Cowboys & Aliens, due out July 29, 2011.
UPDATE: Favreau just Twitter:
Admittedly, I’m heading Magic Kingdom, not Iron Man 3. I had a great career with Marvel and I wish them well.
Let’s start the speculation about who will direct Iron Man 3. Original Story continues after the jump:
This sounds like bad news for Iron Man 3. While there was a disaster, Iron Man 2 was a disappointment. If Marvel is looking for a director cheaper, probably means they’re also looking for a director shall not strong creative control and say things like: “Stop using my film as the marketing of their films in the future.” He spent too much time trying to set up The Avengers in place to exist as its own movie. It is also disappointing to see Favreau out of the picture because I would have liked to see him direct a movie Iron Man, where the villain is Mandarin, not just suits men of iron.
Who elects the director for Marvel Iron Man 3, it is important to note that Robert Downey Jr. has negotiated contract approved by the principalIron Man 3 with the image, it’s likely his next project will be Magic Kingdom, which is about a family trapped in Disneyland and magical moments with all Disney attractions and rides.
