No Percy Jackson and the Titans Curse Movie

I am 100% positive I am not the only person at least slightly pleased at this news. The first two movies in the Percy Jackson film franchise made a mockery of a book that was loved by millions. They were in high school. Annabeth was NOT blonde, and Grover was African American (and to be honest I'm not actually that upset by this news, considering Riordan only started truly introducing cultural diversity in the Heroes of Olympus series). Still, when I went to check up on this film franchise, I was a bit surprised to find out that Logan Lerman had declared the Titan's Curse film "Officially Dead", or at least his role in it. I'd really appreciate some feed back on this if you don't mind, so comment away!