If you were excited for Will Smith's possible role in Disney's live-action "Dumbo," your bubble is about to be burst: He won't be starring in director Tim Burton's planned remake.

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Citing an unnamed source, TheWrap reports that the "Suicide Squad" star, who was in early talks last month for the project, is no longer attached.

Smith's departure is unlikely to derail Disney's plans, however: Following the success of "Alice in Wonderland," "Maleficent," "Cinderella" and "The Jungle Book," the studio has more plans for more than a dozen live-action adaptations of animated classics like "Peter Pan," "The Lion King," "The Little Mermaid," "Mulan" and "101 Dalmatians" (which, like "Maleficent," will focus on the original's villain, Cruella De Vil).

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Smith will next be seen in "Bright," directed by "Suicide Squad's" David Ayer and starring Joel Edgerton, Noomi Rapace and Edgar Ramirez, before reuniting next year with Martin Lawrence in "Bad Boys For Life."

Released in 1941, Disney’s animated “Dumbo” tells the story of a young circus elephant ridiculed for his big ears, which he discovers he can use as wings.