Legendary Pictures has picked up the rights to Toho Co.’s classic movie monster Godzilla, reports HEAT VISION. Warner Bros. is set to co-produce and co-fund the picture, as well as distribute. Toho will handle distribution in Japan.

The producers include Dan Lin, Roy Lee and Brian Rogers with Yoshimitsu Banno, Kenji Okuhira and Doug Davison executive producing.

The studios hope to have the film ready for a 2012 release.