While speaking with the press today before their Upfront announcements in New York on Fox’s Fall 2011 Schedule, Entertainment Chairman Peter Rice and Entertainment President Kevin Reilly spoke about why the ambitious comic book adaptation LOCKE & KEY did not get picked up to series.

“I think we made a number of pilots and we made choices based on our schedule,” says Rice noting it’s not about a “specific shows qualities” of whether or not its picked up, but based on the programming needs of the network.

“It’s actually a cool pilot with cool talent involved,” adds Reilly. “I wish it was an easy decision to make. It really came down to the shows that we picked and they fit better. It sounds pat, but that’s what it is.”

The current rumor has LOCKE & KEY shopping for another network, probably cable, where its mythology and genre elements will be a more natural fit.

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