Born from the minds of Stan Lee and Steve Ditko in the early 1960s, Spider-Man was a teenage superhero that resonated with the comic book demographic right away. Naturally, Hollywood came calling soon after. Spider-Man was quickly turned into a cartoon series that ran three years (1967-70) and is most notable for its well-known “Spider-Man, Spider-Man, does whatever a spider can” theme song.
Live-action Spidey debuted in 1974 in the recurring “Spidey Super Stories” on the children’s variety show THE ELECTRIC COMPANY. This proved to be a popular segment and gave way to the television series THE AMAZING SPIDER-MAN, which began with a television pilot in September 1977 that saw theatrical release overseas as a feature. The series premiered the following year in April 1978 and ran for a total of 13 episodes. Hot on the heels of the US version, the Japanese also produced a live-action series (Supaida-Man) that debuted in May 1978. This series featured a young Japanese motor cycle racer becoming the titular superhero after receiving a special bracelet from an alien in a crashed UFO. Naturally, Spider-Man fought huge monsters, ninjas, samurais and controlled a large robot. The series lasted less than a year but managed to pack in an impressive 41 episodes into its run. You can now watch it online with subtitles at Marvel.com.
But by late 1985, Hooper was off the project and director Joseph Zito, who helmed Cannon’s successful MISSING IN ACTION and INVASION U.S.A., stepped in as director. Interestingly, Zito included a scene in MISSING where Chuck Norris' character awakens from a Vietnam nightmare to find the cartoon series Spider-Man playing on the television. When Joseph Zito entered the project, he brought in his own writer, Barney Cohen to polish Newsom and Brancato’s script (check the comment section below for more info on this). The plot, according to Zito, focused on Spider-Man battling Dr. Otto Octavius, better known as Doctor Octopus. The script (dated Nov. 24, 1985) can be read online at this link and is interesting in how some of it mirrors the eventual SPIDER-MAN 2 from Sam Raimi, which featured the same villain.
Zito scouted studios in both Italy and England to house the production. Zito also hired Mentor Huebner and Marvel Comics artist Nikita Knatz to help storyboard the film. Special effects tests were done to capture Spider-Man's movement and Doctor Octopus's tentacles. While no actors were officially cast, Zito considered stuntman Scott Leva for the role of Peter Parker/Spider-Man. Leva had made public appearances as Spider-Man for Marvel Comics in the 1980s. Zito also expressed interest in having Bob Hoskins play the villain Doctor Octopus. In addition, Zito mentions that Stan Lee himself was hoping to land the role of Daily Bugle editor J. Jonah Jameson. In total, Cannon spent $1.5 million in pre-production costs on the un-produced Zito version.
Despite investing $1.5 million in pre-production, the producers shutdown the project in 1986. According to the article, "Cannon found itself in dire financial trouble last year, bailed out by Warner Bros to the tune of $75 million. The risk of losing $15 million stopped being acceptable." Ironically, Golan and Globus turned their attention to producing the more expensive (and eventual box office bomb) SUPERMAN IV: THE QUEST FOR PEACE. In the interim, Cannon Films temporarily lost the option rights to the Spider-Man series when they failed to make a timely payment to Marvel Comics. As a result, "New World Pictures, which owned Marvel [at the time] and the film rights to its line of superheroes appears to have jumped at the opportunity presented by this unfortunate gaffe." New World Pictures never made the film either.
Cannon would eventually get back in Marvel’s good graces and lined up a Spider-Man film again in 1988 for director Albert Pyun (THE SWORD AND THE SORCERER). Pyun told Cinefantastique “we’re working with Stan Lee and Marvel on SPIDER-MAN” and that a Christmas 1989 release was planned. The film was to be shot at Dino De Laurentiis’ studios in Wilmington, North Carolina. Amazingly, all of this was to be done by Pyun while also directing back-to-back the promised MASTERS OF THE UNIVERSE 2, DELTA FORCE 2 and SUPERMAN V! Cannon was so sure this was happening that they even logged SPIDER-MAN in Variety's "Future Films" section with an exact production start date of October 24, 1988:
Small article in a Cannon advert section in Variety talking about the film in 1988 (click for readable, full sized scan):
It obviously didn't happen. Not to be deterred, they listed it again a few months later with a March 1989 start date; note the switch from screenwriter Don Michael Paul to Ethan Wiley in the interim. Gee, I wonder why this project isn't getting off the ground?
Not surprisingly, the production was eventually postponed and didn't meet the Xmas 1989 deadline. Cannon was still stoking the fire though by running a “1990 – The Year of Spider-Man” banner on every one of their ads in Variety the following year. The film never materialized.
German blurb from CINEMA magazine announcing the film circa 1990:
1991 Cannon ad in Variety for the project; notice new credited screenwriters Neil Ruttenberg (DEATHSTALKER II) and Joseph Goldman (HOT CHILI):
Interestingly, the rights fell into the hands of Carolco in the mid-90s and some dude named James Cameron (who?) was attached to direct it. They even ran simple ads announcing it in Variety. Cameron never got a chance to make it and word on the street is he hasn’t amounted to anything since it fell apart.
Disclaimer: A majority of this piece was originally from an entry I did that was added to Wikipedia in May 2007. It was subsequently removed/merged/altered by the fine folks there into the SPIDER-MAN films history. So, no, I did not rip off Wikipedia. And all photos/scans come from our personal collection.