David Hayter (X-MEN, X2: X-MEN UNITED) has been hired to rewrite IRON MAN for New Line Cinema, reports THE HOLLYWOOD REPORTER. Alfred Gough and Miles Millar (TV's SMALLVILLE) wrote the previous draft. The Marvel comic told the story of billionaire industrialist Tony Stark, who creates an armored suit allowing him to fly and shoot repulsor rays. The comic began in the 1960s and brought Iron Man up against the Viet Cong, however the film will take place in a modern setting. Tom Cruise has long been rumored to be eyeing this character intrigued by the character's battle against political and industrial criminals as well as alcohol.