Due to New Lines stalled development of an IRON MAN feature, Marvel has regained the film rights to the comicbook franchise, reports VARIETY. After the project was in development hell for more than two years, the franchises option expired this summer and Marvel opted not to renew with New Line. Now the feature will start from scratch at Marvel with a new script, which will either be produced in-house or licensed to another studio.
Early this year Marvel signed a $525 million deal with Merrill Lynch to produce up to 10 films. Because IRON MAN was not part of that deal, Marvel would have to raise separate funds to make the IRON MAN film on it own. However, regaining the rights to the property does make one of the films in the Merrill Lynch deal more promising. That film would be THE AVENGERS, which the Iron Man character was a key part in. With Marvel controlling the rights to both Captain American and Iron Man, the comicbook creator now holds the film rights to the two key characters in THE AVENGERS franchise. A CAPTAIN AMERICA feature seems to be the first film on Marvels production slate, which buzz says will lead into THE AVENGERS feature. In addition, the Hawkeye and Ant-Man characters members of the Avengers team are also slated for solo features as part of the Merrill Lynch deal. With Iron Man back in the mix, THE AVENGERS is shaping up as a key franchise in Marvels in-house film portfolio, possibly serving as a launching pad for spin-off franchises of the key members of the Avengers superhero team.
At New Line, scripts for IRON MAN were penned by Alfred Gough & Miles Millar (SMALLVILLE) and David Hayter (X-MEN). Tom Cruise has long been interested in playing the title character, a tormented billionaire inventor who builds a high-tech suit to fight crime in. The last director to be circling the project was THE NOTEBOOK helmer Nick Cassavetes, which Marvel Studios topper Avi Arad says is still a top contender for the job.
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