According to Variety the deal will kick Conan into production later this year. It's being written by Thomas Dean Donnelly and Joshua Oppenheimer ("Sahara," "Cowboys & Aliens"). Nu Image/Millennium is financing the film and the cost is expected to be $100 million dollars.
With hopes of production to start soon it does all depend on the current writers strike. Nu Image/Millennium chief Avi Lerner is in discussions to make a WGA deal, "It's a possibility, though I haven't studied it enough to make a final decision," Lerner told Daily Variety. "The whole strike is stupid, in my opinion. They approached us, indirectly, to make some kind of deal, and we are looking at it."