From the UNPUBLISHED MORRISON
ULTIMATE FANTASTIC 4 (2002)
Initially offered the choice of rebooting the Marvel line with Ultimate X-Men or Ultimate Spider-Man as a lure away from DC, Morrison turned both titles down, recommending Mark Millar for the Ultimate X-Men gig, and jumping ship from DC to pen the X-franchise flagship title, retitled New X-Men during his tenure.
During his 4-year stint at Marvel, Morrison consulted on the launch of further titles in the Ultimate line, specifically Ultimate Fantastic Four and Ultimate Avengers, eventually known simply as The Ultimates.
Ultimate Fantastic Four was envisioned as a superhero sitcom-soap opera, seen by Morrison to be in line with prevailing pop-culture trends (think Buffy, Friends etc.). This tactic had been used before in comics, notably in Giffen & DeMatties' Justice League International, a comic that had, at the time of Morrison's proposal, dramatically fallen out of fashion since its heyday in the late 80's-early 90's.
Supposedly Mark Waid, then writer of the main Fantastic Four book, asked for any Ultimate Fantastic Four book to be delayed so as not to detract from the then critical and commercial success of his title.
Ultimate Fantastic Four eventually surfaced in 2004, after Morrison had left Marvel for another stint at DC, written by [Warren Ellis] Brian Michael Bendis and Mark Millar and, according to Morrison in various interviews, incorporating uncredited much of his original pitch.
"Ultimate Fantastic Four will probably still appear", said Morrison in an interview with Newsarama, "but I won't have anything to do with it. I was involved in some of the discussions that went on prior to the release of The Ultimates so I feel as though I've contributed my ten cents worth already."