Fox reportedly turned down the chance to pick up the show for a series despite a "phenomenal cast" - including Josh Lawson, Sarah Rue, Will Sasso, Federico Dordei and Yara Martinez - and backing from new Terminator director McG's Wonderland Sound and Vision company.
The show's original creative team of Simon Pegg, Jessica Hynes and Edgar Wright refused to support the remake after Fox allegedly made no attempts involve them in the new version.
Posting on his MySpace blog, director Edgar Wright said: "In normal circumstances, it would be strange to celebrate a pilot not being picked up. But the last 9 months or so have not been normal at all. They've been painful, upsetting, frustrating and deeply depressing. So, it's nice to know that sometimes things work out."