According to The Hollywood Reporter, 20th Century Fox, the studio behind "X-Men" and "Fantastic Four" film franchises, has acquired his life's rights.
Marty Bowen and Wyck Godfrey, the producers behind "Twilight", "The Maze Runner" and the upcoming "Power Rangers", are attached to produce.
Lee and Gil Champion, Lee's partner at POW! Entertainment, will executive produce the project, with Matt Reilly overseeing for Fox. No writer has been hired to pen the script.
It is described as being in tone with the hit film "Kingsman: The Secret Service" or Roger Moore-era "James Bond" movies which were noted for their campy nature, over-the-top scenarios and one-liners.
In real life, Lee moved to Hollywood in the 1970s in hope to see his characters adapted to the big and small screens. In the early 2000s, the former president and chairman of Marvel company made a cameo appearance in countless Marvel films, including "X-Men" and "Spider-Man".
He also appeared in recent films like "Deadpool" and "Captain America: Civil War".
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