In something of a surprise announcement, a reboot of Green Hornet is in the works. When last we heard, Paramount Pictures was developing a new take on the classic hero. The studio let the rights expire and that version is dead in the water. Now, Amasia Entertainment has won the movie rights to the franchise and they intend to develop a new big screen version of the character.

Amasia Entertainment is headed up by Michael Helfant and Bradley Gallo. Helfant, it's worth noting, is the former president of Marvel Studios, a job which Kevin Feige famously held for sometime before recently being promoted to chief creative officer at Marvel. Now, Helfant will be trying to make his own superhero franchise outside the realm of the big two, Marvel and DC. Helfant had this to say about it in a statement.

"When I was a kid, The Green Hornet was one of my favorite television series. I loved everything about it, The Green Hornet, Kato, and of course, the Black Beauty. They were the coolest! It was personally painful to leave them all behind when I left Dimension. So I tried to option the property again at Marvel before it went over to Sony, and then again in 2017 before the rights landed at Paramount. [...]

This is one of the only stand-alone classic superhero franchises. We're a bunch of fan geeks at Amasia and are thrilled about creating something fresh and truly worthy of this legacy property. A new world that is relevant and thrilling, while respecting and honoring the original vision of creator George W. Trendle."

The Green Hornet is unique because it isn't controlled by DC or Marvel. It's a superhero franchise that began as a series of radio serials and gained mainstream popularity in the 60s thanks to the live-action TV show, which starred Bruce Lee as Kato. Because of that, various studios have held the rights over the years.

Sony previously produced a live-action movie that hit theaters in 2011. It starred Seth Rogen as the masked vigilante and Jay Chou as Kato. With Michel Gondry at the helm, it proved to be something of a financial flop, grossing $227 million worldwide against a $120 million budget. Linda Trendle Hartle, President of The Green Hornet, Inc., had this to say in a statement.

"On behalf of the family of George W Trendle and The Green Hornet, Inc., we are excited to be working with Amasia Entertainment to bring the legacy of The Green Hornet and Kato back to theatres."

There is no word yet on who may be eyed to pen the reboot, nor has a director been set in place. Back in 2016, it was announced that Gavin O'Connor would be directing a Green Hornet reboot for Paramount. Nothing ever came of that, though. Since this new deal was just announced, it will likely take some time to get those pieces in place, but it looks like we've got another superhero franchise on the way. We'll be sure to keep you posted as any further details are made available. This news was previously reported by The Hollywood Reporter.