Now, the granddaddy of all alien invasion tales will be adapted for a second big-screen treatment (the first was in 1953, starring Les Tremayne and Gene Barry). And who better than to put his name on a big-budget special effects extravaganza than the master himself, Steven Spielberg? The eminent director of such modern classics as Raiders of the Lost Ark, E.T., Schindler’s List, Saving Private Ryan and Minority Report will team with Really Big Star Tom Cruise to bring the film to the big screen. Currently, Spielberg is expected to join Cruise in producing the film. It is anticipated that Cruise will also take the starring role. The two will be expected to settle on a production start date once screenwriter David Koepp (Jurassic Park, Spider-Man, Secret Window) delivers an acceptable script.

For the past few years, all eyes in Hollywood have been squarely focused on the portly figure of Peter Jackson. His creation of a multi-billion earning trilogy is a feat for the ages, and one that will keep New Line accountants smiling for years to come. Such success inevitably leads to coypcat behavior as competing studios look to create their own cash cows. That makes every existing established literary franchise a potential gold mine for someone. Paramount Pictures is not normally known as a financially adventurous studio. After the disappointment of the Tomb Raider sequel, many observers expected the studio to grow even more fiscally conservative. Oops. Paramount is spending over $100 million to ignite a new potential franchise, and it’s not exactly a Harry Potter situation.