From yesterday’s entry on the blog of animation writer Earl Kress:
But getting back to “Song of the South,” there are two things I do know. It was definitely on the schedule to be released as one of the “Treasures” series, and Bob Iger, new head of The Walt Disney Company, recently sat down and watched it. It’s definitely not on the schedule any more.
UPDATE: Mark Evanier has more details about Iger’s specific reasons for not releasing the film. Iger said at the Disney shareholder’s meeting last month, “Owing to the sensitivity that exists in our culture, balancing it with the desire to maybe increase our earnings a bit but never putting that in front of what we thought were our ethics and our integrity, we’ve made the decision not to re-release it.”