"The Hunger Games" director Gary Ross not returning for "Catching Fire"

(CBS News) After scoring a blockbuster hit with "The Hunger Games," director Gary Ross has chosen not to helm the film's sequel, "Catching Fire."

Pictures: "The Hunger Games" cast in NYC
Pictures: The film's world premiere

In a statement released by Lionsgate, Ross said he came to the decision after "difficult and sincere consideration," citing the limited time he would have to write and direct the movie because of the "fixed and tight production schedule."

"I loved making The Hunger Games - it was the happiest experience of my professional life," the statement continued, according to Deadline. "Lionsgate was supportive of me in a manner that few directors ever experience in a franchise: they empowered me to make the film I wanted to make and backed the movie in a way that requires no explanation beyond the remarkable results. And contrary to what has been reported, negotiations with Lionsgate have not been problematic. They have also been very understanding of me through this difficult decision."

In another statement, Lionsgate said, "We're very sorry that Gary Ross has chosen not to direct 'Catching Fire.' We were really looking forward to making the movie with him. He did an incredible job on the first film and we are grateful for his work. This will not be the end of our relationship, as we consider Ross to be part of the Lionsgate family and look forward to working with him in the future."

"The Hunger Games" opened in theaters on March 23 and has topped the box office for three weeks straight, earning a domestic total of $302.8 million as of this past weekend.

Lionsgate has already scheduled a release date for "Catching Fire," based on the second novel in Suzanne Collins' bestselling book series. It's set to debut on Nov. 22, 2013.