HBO Max Cancels Degrassi Reboot: Report

Barbara Cole/Epitome Pictures

It looks like HBO Max is not willing to do "Whatever It Takes" to reboot Degrassi.

The streaming service has scrapped the revival of the iconic Canadian teen series, according to The Wall Street Journal, after it was initially picked up for 10 episodes earlier this year. (Representatives from Warner Bros. Discovery and Degrassi's production company WildBrain did not immediately return PEOPLE's request for comment.)

RELATED: Degrassi Revival Series Is Coming to HBO Max, The Next Generation Alums Share Reactions

The new Degrassi series was pegged as an "character-driven" one-hour drama set in Toronto "about the high school experience and the thrilling, often painful journey of self-discovery," according to a summary from HBO Max.

The summary continued, "The show travels deep into the hearts and homes of diverse, complicated characters, as they struggle to find their new normal, reaching for hope, redemption and love."

Degrassi was to be produced by WildBrain and developed by showrunners and executive producers Lara Azzopardi and Julia Cohen, according to Variety. It's unclear whether any scheduled filming took place over the summer.

CATV/Courtesy Everett Collection

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

The new series would have been the sixth iteration of the heralded teen drama, the outlet reported, with others including The Kids of Degrassi Street, Degrassi Junior High, Degrassi High, Degrassi: The Next Generation and Degrassi: Next Class.

The original franchise ran from 1979 to 1986, starting as a project by middle school teacher Linda Schuyler and producing partner Kit Hood showcasing short films about a group of kids living on Degrassi Street in Toronto.

At the time of this year's announcement of the show in January, HBO Max said it had acquired the U.S. streaming rights to the entire 14-season library of Degrassi: The Next Generation, the franchise's longest-running of the shows.

Degrassi: The Next Generation, which ran from 2010 to 2015, served as a launching pad for future stars including Nina Dobrev, Shenae Grimes and Drake (then performing under his birth name of Aubrey Graham).

RELATED: HBO Max Pulls Nearly 200 Sesame Street Episodes amid Merger Purge

The news comes as the streaming service's owner, Warner Bros. Discovery, continues to thin its content library due to the cost of royalty payouts, according to Variety.

In August, HBO Max removed nearly 200 Sesame Street episodes, in addition to its announcement that it no longer planned to release Batgirl or the animated series Scoob! Holiday Haunt.