[Update: Reports are in that Waltz is NOT being sought for this role.]

Remember when Sam Raimi was arguing with Sony about whether or not John Malkovich’s Vulture character was the right villain to battle Tobey Maguire in Spider-Man 4? Those were the days. It resulted in the film being canned and the entire cast being exiled, leading to a lower-budget 3D reboot to be directed by up-and-comer Marc Webb (500 Days of Summer).

Not long ago, it was finally confirmed that Andrew Garfield was selected as the underpaid new face of the franchise but no other members of the cast have yet to be announced. That may change soon with reports that Oscar-winning actor Christoph Waltz is in talks to play the Spider-Man’s next villain.

The latest rumor comes from The Playlist who heard from a source that Christoph Waltz, made famous for his epic performance in Quentin Tarantino’s Inglourious Basterds, is being sought out by Sony to play the feature villain in the 3D Spider-Man reboot. The news surfaces now upon the item being mentioned in this week’s Production Weekly so it’s now just a question of whether or not Waltz wants to play another villain after his role in the The Green Hornet and before he plays one in The Three Musketeers.

Michael Fassbender was previously the top candidate to play the villain but he opted to play Magneto for Bryan Singer and Matthew Vaughn’s X-Men: First Class, a much better choice in my opinion.

Update: SuperHeroHype claims to have spoken to “sources close to the production” who say this Christoph Waltz/Spidey reboot talk is pure rumor. That source also assures fans that when a villain is chosen, the role will be filled by ‘a great actor.’ Guess we’ll have to wait and see.

As to which Spider-Man villain may be featured in the reboot, the rumors still point towards The Lizard finally being utilized. If that turns out to be true and Waltz or whoever signs on gets to play Dr. Curt Connors, I feel bad for Dylan Baker who played the character in Sam Raimi’s movies but never had the chance to turn reptile against Spidey.

Is Waltz the right choice to play yet another villain?

Share your thoughts with on Twitter @rob_keyes and @screenrant.

The Spider-Man reboot is set to hit theaters July 12, 2012.

Source: The Playlist