20th Century Fox will distribute the live-action film, which will be written and directed by Henry Joost and Ariel Schulman. Meanwhile, Chernin Entertainment and Masi Oka - best known as Hiro Nakamura from Heroes - will produce.
This new film endeavor is part of Capcom's plans to "increase the brand value" of the "Mega Man" series by capitalizing on other visual mediums. The film is expected to "maintain the world of Mega Man" on a grander Hollywood scale.
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The "Mega Man" film now does not have a release date. Wily (and his robotic minions) will most likely be involved. Now, after a couple of remasters and an all-new game, the company are planning to bring the blue bomber to the silver screen. Monster Hunter is now being produced by Sony, with Hellboy's Ron Perlman and Resident Evil's Milla Jovovich in the title roles.
It's unknown who 20th Century Fox could be considering for the role of Mega Man, but it sounds like it's going for full live-action, instead of CGI/live-action based like Sonic the Hedgehog, which is now in production for a winter 2019 release. It seems Capcom ran out of inspiration partway through making Mega Man 11, as only half the game's stages, bosses, and Special Weapons are up to series standards.