After the subpar Sony offering in 1998 it seemed like a foregone conclusion that a production company would come along and rectify the situation. It’s just impressive that no one has done it yet. Apparently, the wait won’t be much longer.

From Variety

Durable special effects juggernaut “Godzilla” will return to the bigscreen in 2012, with Legendary Pictures producing.

Legendary will co-produce with Warner Bros., which is co-financing.

The “Godzilla” project’s been something of an open secret in recent months after Legendary execs began talking with potential directors. Legendary held off on making a public announcement until it closed its rights deal with Japan’s Toho Co., which has overseen more than 25 “Godzilla” films.

Read the entire article here.

Working Author will have more information as it becomes available.