20th Century Fox’s long-gestatingFantastic Voyageremake has been given new life, withGuillermo del Toroentering talks to develop and direct.The Hollywood Reporterreveals that the director will work with writersDavid S. GoyerandJustin Rhodeson the screenplay. The project is being eyed as a massive tentpole project for the studio, but an official release date has not yet been given.

James Cameronhas been developing the project for several years now, and he will continue to produce with his Lightstorm Entertainment partnersJon Landauand Rae Sanchini, withDavid S. Goyerset to executive produce. We reported in May 2014 thatDavid S. Goyerwas writing a new treatment for the project, and now he is set to co-write the script withJustin Rhodes(Contract Killers).

The originalFantastic Voyagehit theaters in 1966, centering on a team of scientists who are shrunk to atomic size and sent in a miniature submarine inside the body of a scientist to save his life. The movie was set during theCold War, and the scientist was a defector who was in a coma after an assassination attempt. The original classic starred Stephen Boyd, Raquel Welch, Edmond O’Brien and Donald Pleasence.

There have been several writers and directors who have taken a crack atFantastic Voyage.James Cameronfirst announced the project back in 2009, with Shane Salerno (Savages) originally set to write the script.Laeta Kalogridisand the writing team ofCormac WibberleyandMarianne Wibberleyhave previously worked on the script, with directors such asRoland Emmerich,Paul GreengrassandShawn Levyonce attached, along with starsWill SmithandHugh Jackman.

This report also reveals thatGuillermo del Toro’sPacific Rim 2, which was originally set to be his next movie, has been delayed indefinitely. Back in September, the filmmaker confirmed thatPacific Rim 2was delayed, but still happening, amid rumors that the studio was cancelling the sequel. Now it seems thatPacific Rim 2is “off the table indefinitely,” which lead him to come aboard forFantastic Voyage. What do you think aboutGuillermo del Torotaking over onFantastic Voyage?