No, this is not a follow up to Peter Jackson's King Kong. The King of Kong is a documentary about the man who beat Donkey Kong's highest score to become a videogame champion. According to Variety, the true story is now being turned into a comedy for New Line.
The documentary featured rival gamers attempting to achieve Donkey Kong supremacy. Manic's Michael Bacall has been hired to write the script.
The doc's original director, Seth Gordon, will be back in the captain's chair for this film as well. There is no start date for the fictionalized adaptation, but the original documentary will open this August.