It's been up in the air for a while, but now it seems to be actually happening, with Variety reporting that Disney and Marvel have refused to give Fox an extension on the rights to Daredevil. This means the character will fall back into the hands of Marvel, the second character to do so after Lionsgate gave back The Punisher. This puts paid to Joe Caranhan's, the latest director attached to the project, plans for a 1970's set take on the character, heavily influenced by writer Frank Miller's run on the character. Marvel is expected to regain control of the character sometime after the October 10th deadline expires.
Responding to the news, Carnahan posted the sizzle reel he used to propose his take to Fox on his twitter page. Comprising of footage from the previous Daredevil film, various famous 70's films, and panels from the comic, it really paints a good picture of what the director had planned, which would have been pretty sweet. Below is the PG-13 version, a more violent NC-17 version can be seen at the link above.