According to The Hollywood Reporter's piece, Warner Bros. closed Cavill's role as Superman in a big bid to revitalize its waning franchise.
Following Man of Steel, Batman v. Superman: Dawn of Justice and Justice League, Cavill was in talks to cameo in the upcoming Shazam!
Cavill first donned the signature Spandexed suit in 2013's "Man of Steel".
It looks like the end of an era is upon Warner Bros. and the DC Extended Universe.
Ben Affleck's return is looking increasingly unlikely as Batman, which leaves the other Justice League heroes - Aquaman, Wonder Woman Flash and Cyborg - with strong solo projects lining up but no group action. Rumors about such a move swirled last week when it was announced that Cavill would be starring in Netflix's video-game adaptation The Witcher, and it does indeed appear that scheduling conflicts may have been the initial root of the problem.
The latest report also claims that WB is concentrating on the planned Supegirl movie, at the expense of Superman himself.
The cancellation is said to have led the studio to rule out future cameos, with its focus now on a Supergirl origin movie, following the success of Gal Gadot as Wonder Woman, with that time shift meaning an adult Superman character would not work. He recently starred with Tom Cruise in "Mission: Impossible - Fallout", which is now the highest grossing installment in the series.