The project was first put into development way back in 2009, when Joseph Kosinski was prepping his directorial debut Tron: Legacy. Travis Beacham (Pacific Rim) was first brought on to write the script, although we have heard very little about the project over the past few years.
The 1979 original film The Black Hole was the most expensive film Disney had ever made, at the time. Maximilian Schell, Anthony Perkins, Robert Forster, and Ernest Borgnine starred in this sci-fi thriller about a group of space explorers who find a ship dubbed the USS Cygnus right outside of a black hole. Once they board the mysterious vessel, they find a mad scientist whose crew had abandoned him before entering the black hole. No story details were given for this new version, except that it is more philosophical and it has a darker tone.