An Australian based production company has announced that it will produce a sequel to 1996’s superhero adventure The Phantom.

Yes, only 12 years after the Billy Zane/Catherine-Zeta Jones starring original, someone actually wants to take another shot at it.

The Phantom Legacy, which either has a budget of $87 million or $130 million depending on who you ask, is being produced by Sherlock Symington Productions and will be shot down under.

“It has the makings of a blockbuster”

It has the makings of a blockbuster," producer Bruce Sherlock told The Associated Press. "There are some surprises that will thrill the Phantom fans worldwide." Like the film being good this time, perhaps?

"The film will be set in the present day and will deal with the concept of destiny,” says writer Tim Boyle, who also remarks that the script explores “the Father/Son relationship, and what it means to be The Phantom.” You know, the guy who is descended from a long line of men who fought evil in Africa, wears purple spandex and a mask and generally looks a bit naff doing it.

Talking to The West Australian newspaper, Sherlock admitted that the first attempt to bring The Phantom to the screen failed because of the low budget.

“We can do it better”

“I, frankly, think that’s what was missing in the first ‘Phantom’ — we had a very limited budget,” says Sherlock. “It’s a better budget this time and also I just feel very comfortable with the script. I think we did it okay before, but I really, honestly, feel we can do it better. A lot better.”

Look, just because The Spirit is making it to the big screen, it doesn’t mean every ghostly-sounding adventure has to follow. What’s next? Rentaghost?

We’ll look into the rights for that one. Keanu Reeves as Mr Claypole? Sorted.

[Source: Associated Press/The West Australian]