The Titans waived Wright on Monday, Jim Wyatt of the team's official site reports.
Wright impressed while serving as the Titans' top kicker in the Week 17 loss to the Jaguars, converting on all three of his field-goal attempts and his lone extra-point try while filling in for the injured Nick Folk (abdomen). Folk is likely to return and serve as Tennessee's starting kicker in the Week 18 matchup against the Colts after Wright was waived Monday.