Australian Company To Produce New Film Based On 'The Phantom': 'We Can Do It A Lot Better' Says Producer

The PhantomHe's known as "The Ghost Who Walks," but after hearing the news breaking out of Australia today, "The Phantom" should be known as "The Ghost Who Rides Again."

You read that right -- according to the Australian Associated Press, it appears as though Sherlock Symington Productions, a Sydney, Australia-based company, has secured the rights to "The Phantom Legacy," which is being reported as, "a $130 million special effects-laden blockbuster that...will shine the spotlight on some of the best actors and film crews in [Australia]."

However, as most comic fans know, this isn't the first attempt to bring "The Phantom" to the big screen. How could any of us forget the campy Billy Zane/Catherine Zeta-Jones 1996 attempt at the groundbreaking superhero (the first to don a spandex-type suit and wear a pupil-less mask)? And if there's one person who clearly isn't forgetting that film, it's Bruce Sherlock, who will serve as executive producer on "The Phantom Legacy" (and served as executive producer on the '96 version as well).

“I, frankly, think that’s what was missing in the first 'Phantom' -- we had a very limited budget,” said Sherlock to Australia's The West Australian newspaper. "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.”

Sherlock plans to keep the cast and crew of "The Phantom Legacy" a homegrown group, which he hopes will shine a light on Australia's top film and creative talent. Already, he has tapped Australian Tim Boyle to write the script and possibly direct the film, and Boyle intends to focus the story on the father/son dynamic of "The Phantom."

“The film will be set in the present day and will deal with the concept of destiny,” said Boyle.

Are you interested in seeing "The Phantom" make his way back to the silver screen? What did you think of the 1996 version of the film? We wanna know what you think in the comments.