UPDATE: Sony have made it official Amy Pascal, co-chairman of Sony Pictures Entertainment, and Matt Tolmach, president of Columbia Pictures, said:
"At its core, Spider-Man is a small, intimate human story about an everyday teenager that takes place in an epic super-human world. The key for us as we sought a new director was to identify filmmakers who could give sharp focus to Peter Parker's life. We wanted someone who could capture the awe of being in Peter's shoes so the audience could experience his sense of discovery while giving real heart to the emotion, anxiety, and recklessness of that age and coupling all of that with the adrenaline of Spider-Man's adventure. We believe Marc Webb is the perfect choice to bring us on that journey."
Arad and Ziskin added jointly, "Over the years, the Spider-Man comics have been told with bold and creative new writers and artists who have re-calibrated the way audiences see Peter Parker. Marc Webb will do for the new direction of the films what so many visionary storytellers have done with the comic books. He is an incredibly talented filmmaker and we look forward to working closely with him on this new adventure."
Webb said, "This is a dream come true and I couldn't be more aware of the challenge, responsibility, or opportunity. Sam Raimi's virtuoso rendering of Spider-Man is a humbling precedent to follow and build upon. The first three films are beloved for good reason. But I think the Spider-Man mythology transcends not only generations but directors as well. I am signing on not to 'take over' from Sam. That would be impossible. Not to mention arrogant. I'm here because there's an opportunity for ideas, stories, and histories that will add a new dimension, canvas, and creative voice to Spider-Man."
Stan Lee, co-creator of Spider-Man, added, "I'm excited that Sony has chosen a director with a real penchant and understanding for the character. This is a brave, bold direction for the franchise, and I can't wait to see what Marc comes up with next."
Added Marvel Studios President Kevin Feige, "The idea of re-imagining the on-screen story for one of the world's most iconic superheros is sure to deliver an exciting new dimension to Spider-Man fans everywhere. There are volumes of comics and material available to inspire fresh and compelling takes on Peter Parker and his journey as Spidey and we look forward to seeing this come alive onscreen."
UPDATE: THR have some of the details of what shape the new Spider-Man will take, in one word cheap.
The plan is for the movie to be shot in the $80 million range and feature a cast of relative unknowns. The story will be pared down to center on a high school kid who is dealing with the knowledge that his uncle died even though the teen had the power to stop it.
So its basically Spider Man 1 without the Green Goblin.
Further Update: Sony has confirmed the release date of the upcoming Spider-Man reboot and announced that the film is to appear in 3D.
The studio revealed today that the fourth movie in the Spider-man franchise will be released in 3D on July 3, 2012.
Sony also hinted that it is abandoning the working title of Spider-Man IV, stating that the project is now "untitled".