Streaming Services Take Back Bids For Rights To Will Smith Biopic As Fallout From The Famed Oscars Slap Continues: Report

Only weeks ago, streaming services were knee deep in a bidding war for the rights to a biopic based on the life of Will Smith as told in his autobiography Will, which documents his childhood and his turbulent relationship with his abusive father.

Netflix and Apple+ have now reportedly taken back their offers following the infamous altercation that occurred at the 94th Academy Awards.

The Independence Day star stunned Oscars attendees when he took the stage and slapped Chris Rock across the face for making a joke about Jada Pinkett Smith's shaved head — the actress has been open about her struggles with her diagnosis with alopecia.

Following the incident, Smith apologized and finally made the decision to officially resign from the Academy of Motion Picture Arts and Sciences, but has since lost a few major projects with Netflix and Sony.

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Now, his potential biopic seems to be hanging in the balance as well.

Steaming service were previously ready to jump at the opportunity to host the coveted biography. A source told The Sun in March, "Some feared that Will’s brutal honesty in his book could harm his reputation. But it’s done the opposite and helped him connect with his audience like never before. When he signed his book deal he did so with an accompanying biopic in mind."

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That is clearly no longer the case as the two major players in the bidding war have decided to step back.

"Netflix and Apple+ have quietly removed their bids for a Will Smith biopic and will instead relocate the funds and develop original ideas from new black actors," a source spilled to The Sun surrounding the controversial move.

“Working with Will has become a risky business," the source continued. "They now plan on developing ideas with more family friendly stars like Mike Epps and Michael B. Jordan."

As OK! previously reported, author Mark Manson — who cowrote the actor's memoir in question — revealed Smith acted the way he did at the Oscars because he was "deeply triggered" by the comments made about his wife's medical condition.

"He was taken straight back to childhood, seeing his mom getting abused by his dad," he explained. "This time he didn’t take it sitting down — and retaliated as, unfortunately, 50 million people across the globe all saw."