G.I. Joe Retaliation director Jon M. Chu is in talks to direct Masters of the Universe for Sony Pictures. We last reported on this project back in April 2010, when Mike Finch and Alex Litvak (Predators) signed on to write the screenplay.

The story revolves around He-Man, the last hope for a magical world's survival against the evil Skeletor. The characters were first created for a Mattel toy line before being adapted into the animated 1983 series He-Man and the Masters of the Unvierse. The tale was later turned into the 1987 movie Masters of the Universe.

Todd Black, Jason Blumenthal, and Steve Tisch are producing through their Escape Artists company. It isn't known when production will begin.

Related: Masters of the Universe Begins Shooting in Late Summer

Jon M. Chu is currently working on a post-production 3D conversion for G.I. Joe Retaliation, hitting theaters next March.