Hellboy: The Crooked Man will start filming in March with Brian Taylor attached to direct the movie.
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According to entertainment website Variety, Mike Mignola, the creator of the Hellboy comics, has co-written the script with Chris Golden.
The Hellboy reboot will follow the titular summoned demon turned reluctant hero, as he teams up with a rookie agent to uncover a secluded witch community in 1950s Appalachia.
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The script is inspired by the comic Hellboy: The Crooked Man, which came out in July 2008.
Millennium Media acquired the rights to Hellboy in 2018. The studio has previously collaborated with Summit Entertainment to produce a 2019 feature adaptation of Hellboy, starring David Harbour.
The makers will announce the cast of the upcoming reboot in the coming weeks.
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"The Crooked Man is a departure from all previous Hellboy films where Mike Mignola and the creator of the comics will finally shepherd an authentic version of his stories and characters in film form,” Millennium Media president Jeffrey Greenstein said in a statement.
“This is the first in the series of films that will captivate audiences in familiar [and new] ways. Brian Taylor is an expert across the board, and I couldn’t think of a better person to bring this story to life to show our audience this different and original Hellboy slate of films," he added.
The project hails from from Millennium Media in association with Dark Horse Entertainment.