Shortly after Bob Iger reclaimed his position as CEO of The Walt Disney Company, he made it clear that cutting costs would be a top priority. He proceeded to lay off thousands of employees and announced plans to cut back on content. The latest casualty of the cutbacks is a live-action adaptation of the children’s fantasy book series The Spiderwick Chronicles for Disney Plus. The cancellation is especially notable because all the episodes were already in the can.
Not to worry, since this show was originally made by Paramount and not Disney themselves it's not likely to become lost media, more likely is it's going to wind up on another streaming service and with the dual-strike still ongoing I can't imagine it'll be very long before another service snatches it up, probably Paramount Plus as it fits right in with the rest of their library.