In a story from Latino Review it appears that 20th Century Fox has picked up the redo of The Shadow from Sony Pictures.
Sam Raimi is still going to produce this project. In addition to this, Fox might also tap 30 Days of Night's David Slade to direct.
The first film was made in 1994 with Alec Baldwin starring. It was based on the 1930's comic strip. The character was introduced as a mysterious radio narrator by David Chrisman, William Sweets, and Harry Engman Charlot for Street and Smith Publications. Later, the Shadow was developed and then transformed by pulp writer Walter B. Gibson.
In the film, the Shadow battled Shiwan Khan, who planned to take over the world by holding a city to ransom using an atom bomb. Using his powers the Shadow comes to the city's rescue. Russell Mulcahy directed that 1994 film.