The reasons for the end of talks are unknown, but sources had told Variety from the start that the long contract Marvel demands could end up being an issue and that is likely why a deal never came to be.
Variety first reported that Marvel was eying Phoenix in July. The superhero role has been previously linked to Tom Hardy and Benedict Cumberbatch.
Marvel is currently meeting with actors and hopes a choice can be made soon.
The “Doctor Strange” comicbook follows a former neurosurgeon who serves as the “Sorcerer Supreme” — the primary protector of Earth against magical and mystical threats. After making his first comicbook appearance in the 1963 series “Strange Tales,” Strange went on to have his own comicbook series and appeared in such comicbooks as “The Fantastic Four,” “Spider-Man” and “Nick Fury.”
Scott Derrickson will direct from a script by Jon Spaihts.
Deadline Hollywood first reported the news.