The film was recently pulled from the AFI Fest due to the news revolving around Spacey, but the studio was standing by releasing the film on its original date.
All the Money in the World, directed by Ridley Scott and produced by Sony, isn't the first to cut ties with the actor.
The disgraced Oscar-winner's scenes as plutocrat Getty in the movie, titled All The Money In The World, will now be shelved, with Canadian actor Christopher Plummer signed on to play the role in a series of hasty reshoots. This comes following sexual assault and harassment allegations against Spacey.
All of Spacey's scenes, which only featured him, will now have to be reshot, although co-stars Mark Wahlberg and Michelle Williams are also expected to return for re-shoots.
The film is based on the true story of the kidnapping of 16-year-old John Paul Getty III in 1973 and the desperate attempt by his mum to convince his billionaire grandfather to pay the ransom. Unruh held a press conference, explaining her son was 18 years old when Spacey allegedly his genitals.
Netflix, which produces the political drama House of Cards in which Spacey was the star, dismissed him from the show last week, after CNN reported that eight current or former House of Cards workers claimed Spacey made the production a "toxic" workplace and one ex-employee alleged the actor sexually assaulted him. "But if I did behave then as he describes, I owe him the sincerest apology for what would have been deeply inappropriate drunken behavior, and I am sorry for the feelings he describes having carried with him all these years".