Per the report, “The logline is being kept under wraps, but the ambition is to use the Bermuda Triangle mythology–planes and ships go missing–and turn it into a tent pole action franchise.”

The film will be a co-production between Atlas Entertainment and Madhouse Entertainment. Atlas’s Charles Roven and Richard Suckle will produce with Madhouse’s Adam Kolbrenner. Andy Horwitz of Atlas and Robyn Meisinger of Madhouse exec producing. Jon Berg will shepherd the project at Warner Bros.

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