Lucasfilm announces today from their website that they will be postponing their 3D re-release of Episode II and Episode III slated for an back-to-back release in September and October. With the announcement of J.J. Abrams directing Episode VII, the now Disney-owned company wants to be 100% focus on the new trilogy to make sure sure they are giving the best best movie experience to the fans. Although we though know how long of the postponement, its not clear if it will lead to a cancellation. Star Wars Episode VII is to be released in 2015 directed by Abrams (Star Trek, Super 8) and screenplay written by Micheal Arndt (Little Miss Sunshine, Toy Story).
Source: Star Wars