'Revenge of the Nerds' project canceled

LOS ANGELES, Nov. 22 (UPI) -- It looks like Hollywood will not revisit the 1984 comedy "Revenge of the Nerds" after all.

Fox Atomic had already begun developing the remake when Atlanta's Emory University pulled out of the project, leaving it with no location to shoot, Daily Variety reported.

Then, Fox Atomic chief Peter Rice decided the film was too small for the teen-oriented film company launched last year, Variety said.

"Everybody worked very hard on 'Revenge of the Nerds,' and we're all extremely disappointed that we can't move forward," he said in making the announcement that the film will not happen.

Everyone who participated in the project -- including director Kyle Newman and cast Katie Cassidy, Jenna Dewan and Dan Byrd -- were compensated, Fox Atomic said.