Sony Pictures has been developing a reboot ofMasters of the Universesince 2009, when they acquired the project from Warner Bros., but over the past seven years, the project has never fully gotten off the ground. Today we have a new report fromDeadlinethat reveals that project has been given a new lease on life, with filmmakerMcGnow in talks to direct. The studio hasn’t set a release date at this time, and it isn’t known when they are aiming to start production quite yet.

The franchise is set on the planet Eternia, following a young man named Adam who has the power to turn himself into a mighty warrior namedHe-Man. Adam becomes the planet’s last hope to defeat the evil Skeletor, who has devastated the entire planet on his quest to conquer castle Greyskull. We last reported on this project in October whenChristopher Yostsigned on to write the script, but this new report claims thatAlex LitvakandMichael Finch(Predators) wrote the most recent draft.

Throughout the years, writers such asEvan Daugherty(Divergent),Richard Wenk,Terry RossioandJeff Wadlowhave been attached to the project.Jeff Wadlowwas set to write and possibly direct, but it doesn’t seem he is involved with the project anymore. Escape Artists' Todd Black, Jason Blumenthal and Steve Tisch are producing, alongside DeVon Franklin. The new director will also oversee a rewrite of the script, but it isn’t known if another new writer has come aboard.

Masters of the Universe was first launched as a toy line from Mattel in 1982, which quickly spawnedHe-Man and the Masters of the Universe, ananimated seriesthat debuted in 1983. The spin-off She-Ra: Princess of Power debuted in 1985, with theMasters of the Universelive-action feature debuting in 1987, starringDolph LundgrenasHe-ManandFrank Langellaas the nefarious Skeletor. Another series, The New Adventures of He-Man, debuted in 1990.

McGmost recently directed3 Days to Kill, the 2014action-thrillerstarringKevin Costner,Amber HeardandHailee Steinfeld. He is currently filmingThe Babysitter, which hasBella ThorneandRobbie Amellset to star. What do you think aboutMasters of the Universefinally happening? Chime in with your thoughts, and stay tuned for more updates on this long-awaited project.