Sony sealed the deal for the rights to the epic black exploitation movie, which will be penned by the "Watchmen" writer, Alex Tse, reported Variety.
The original film, directed by Gordon Parks Jr, featured Ron O'Neal as Priest, a cocaine peddler looking to score another super deal, before his retirement.
The movie also saw a sequel, titled "Super Fly T N T" in 1973.
The studio hopes to take the latest potential version to a franchise level.
Sony exec Palak Patel bought the rights of the movie and the studio is already is listing out actors for the title role. The film will be produced by Joel Silver.
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