Another film has been pushed back (after G.I. Joe 2 and World War Z), with the Michael Bay produced Ninja Turtles movie being shut-down, and all production staff let go by funding studio Paramount.
According to The Hollywood Reporter, the production staff have been told the film's delay is "indefinite." The script by Kevin Eastman, Josh Appelbaum and Andre Nemec is apparently not ready, and the decision was made to pull the plug so they could attempt to get said script right. Wrath of the Titans director Jonathan Liebesman was set to direct the film, but it's so far unclear if he'll stay attached. Liebesman did a solid job with "Wrath" and knows spectacle very well, he just needs to get fussier with his script choices - this could be him doing that also.
Apparently there are hardcore Teenage Ninja Turtle fans out there who were really pissed off that Bay was making this movie in the first place. They must be happy right now, rewatching the cartoon...