The announcement by the studio, Media Rights Capital, came on Friday shortly after Netflix said in a separate statement that it would not be involved with any further production of "House of Cards" if the show included its star, Spacey, reported Variety.
In its statement, Media Rights Capital said, "Spacey's suspension was effective immediately" and added that it would "continue to evaluate a creative path forward" for the show during what it called a "hiatus."
Spacey was also dropped by CAA and his longtime publicist, Staci Wolfe. Scotland Yard has opened an investigation into the veteran actor in response to an allegation that he sexually assaulted an aspiring actor in London.
Netflix is now planning a "House of Cards" spin-off in an attempt to save its flagship series.
Spacey, who is also an executive producer on "House of Cards," has taken a break from acting and is seeking "self- evaluation and treatment".