LOTR: The White Council Shall Not be Released?

Last July, Electronic Arts revealed The Lord of the Rings: The White Council, an ambitious RPG for PC, PlayStation 3, and Xbox 360 seemingly similar to the open-world games championed by developers such as Bethesda. Prior to the official unveiling, the game was known as Project Gray Company, after its executive producer Steve Gray. Today, 1UP reported on a rumor given by an unnamed source, indicating that the game has been cancelled. Reasoning behind the alleged cancellation was not given.

Shacknews has contacted EA for comment on the matter but has not yet received an official response.