A serial adaptation of the Oscar-winning martial arts epic Crouching Tiger, Hidden Dragon is now in early development. Revealed via a report by Deadline, the Crouching Tiger, Hidden Dragon series is being developed by writer and producer Jason Ning, who has just strengthened his relationship with Sony Pictures after signing a new overall deal with the studio.

The series will not only retell the sweeping tale of Crouching Tiger, Hidden Dragon but will also adapt the rest of the Crane-Iron Series by Wang Dulu. Crouching Tiger, Hidden Dragon is, in fact, the fourth part of the novel series, with the other parts - Crane Startles Kunlun, Precious Sword, Golden Hairpin, Sword Force, Pearl Shine, Iron Knight, Silver Vase – each chronicling the struggles of four generations of wandering warrior folk heroes known as youxia.

Incidentally, the fifth novel, Iron Knight, Silver Vase, has also been adapted into the Crouching Tiger, Hidden Dragon sequel, Crouching Tiger, Hidden Dragon: Sword of Destiny, which was released by Netflix back in 2016. Of course, Crouching Tiger, Hidden Dragon: Sword of Destiny is not looked upon anywhere near as fondly as its predecessor, which should relieve at least some of the pressure off of Jason Ning when it comes to this new adaptation.

Sony recently acquired the rights to the Crouching Tiger, Hidden Dragon saga and clearly has a lot of trust in Jason Ning. Ning is best known for several popular television series, including Lucifer, The Expanse, Burn Notice, and Perception. In addition, Ning currently serves as co-executive producer on Silk: Spider Society, the upcoming superhero series based on the Marvel character of the same name, which is set for release on MGM+ and Amazon Prime Video sometime in the near future.

RELATED: Crouching Tiger, Hidden Dragon Director Remembers Struggle to Turn B-Movie Into an Oscar Winner

Crouching Tiger, Hidden Dragon Returns to Theaters Next Month

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Columbia Pictures

Set in 19th century Qing Dynasty China, Crouching Tiger, Hidden Dragon follows a legendary warrior, Li Mu Bai (Chow Yun-Fat), who gives his coveted sword, The Green Destiny, to his lover, Yu Shu Lien (Michelle Yeoh). Tasked with delivering the sword to safety, it is suddenly stolen by a mysterious thief. Thus, Li embarks on a mission to find it leading her on an epic journey filled with love, betrayal, and stunning displays of martial arts.

Directed by Ang Lee and written for the screen by Wang Hui-ling, James Schamus, and Tsai Kuo-jung, Crouching Tiger, Hidden Dragon stars Chow Yun-fat, Michelle Yeoh, Zhang Ziyi, Chang Chen, Lang Sihung, and Cheng Pei-pei.

A monumental success, Crouching Tiger, Hidden Dragon was showered with both critical praise and awards upon release. The wuxia tale won over 40 awards and was nominated for 10 Academy Awards, including Best Picture, ultimately winning Best Foreign Language Film, Best Art Direction, Best Original Score, and Best Cinematography, and becoming the most nominated non-English-language movie of all time.

Crouching Tiger, Hidden Dragon is due to land in theaters once again next month, with Sony Pictures announcing that “Ang Lee’s four-time Academy Award-winning masterpiece is returning to theaters. See one of the greatest movies of all time in astonishing cinematic quality, in theaters everywhere February 17.”