The site continued by saying that "several department heads working on the SPIDER-M4N production were notified of the halt last Thursday. Spidey and friends have some issues that need to be dealt with before production can move forward once again."
Our studio source tells us this is not true. They are simply on hiatus for the holidays and production will resume in the new year. This is a very common practice on films, and not really surprising.
The fourth installment is scheduled for a release in conventional and IMAX theaters on May 5, 2011.