Dan Gilroy (Real Steel) has reached a deal with Magic Storm Entertainment to write The Annihilator (working title), a movie based on the Chinese comic superhero created by Stan Lee.  According to Deadline, the story follows "a young man who becomes a superhero who returns to his homeland to mete out justice."  The logline is pretty nonspecific, but Lee promises this is "the most incredibly original and unique superhero I’ve created in a long time."  The Annihilator is the first feature film set up at Lee's POW! Entertainment.  Gilroy's most recent job was working with his older brother Tony Gilroy on the script for The Bourne Legacy that Tony is also directing.  The franchise reboot hits theaters on August 3, 2012.

Hit the jump for on Code Entertainment's new project, Sad Jack.

Variety reports that Code has bought Chris Borrelli's action spec script Sad Jack, outbidding White Knuckle, Mandalay Vision, and Bold Films (among others) in the process.  The story centers on "a hired assassin who is challenged by his paranoid schizophrenia to distinguish real threats from those conceived in his imagination."  That is a unique approach to the assassin genre---I'll give Borrelli that.  But I want to see how the schizophrenia manifests.  Does he hear voices telling him to shoot innocent people?  Does he hallucinate imaginary targets?  Can a good action movie possibly be named Sad Jack?  I vote no.

Code's Al Corley, Bart Rosenblatt, Eugene Musso will produce alongside Borrelli, Chris Cowles, Jonathan Dana, and Chris Fenton.  Production is tentatively scheduled for next summer.