Imagi began development of a film in 2004. Producer Tom Gray shared that the Imagi release will have a PG-13 rating, possibly pushing toward R.
When plans for a Gatchaman film were first announced in February 2006, it was with an expected 2008 release. Kevin Munroe (TMNT) was scheduled to write and direct, with Lynne Southerland (co-director of Mulan 2) as producer, and had begun initial treatment.However, in 2008, Munroe was taken off the project to direct Dylan Dog. Early script treatments were written by Paul Dini, but in fall 2007, he was released from the project. In June 2007, it was announced that Robert Mark Kamen was signed to write the screenplay in preparation for a 2008 release.
At the July 2008, Comic-Con, Imagi shared a Paul Dini-scripted trailer. In August, art director Felix Ip began posting screen-shots from the trailer. Neil Miller of Film School Rejects wrote, “At this point, I was not only forced to give the film a second look, but I was also very intrigued. What is this Gatchaman, and why does it look so damn cool? The answer to the latter question is simple, the folks over at Imagi have some serious game.”
In December 2009, auditors reported a growing concern qualification toward the half-year results posted by Imagi. The company had reported that it was on course for release of Astro Boy, but the audit firm said, “It is uncertain whether the group will have the necessary financial resources to complete [the films] Gatchaman, Tusker, and Cat Tale.” Then, in January 2009, the auditing firm officially announced that the studio lacked funding to complete the release of Tusker, Cat Tale, and Gatchaman, even though Felix Ip had reported that Gatchaman’s release was expected later in 2009. In June 2009, Imagi opened Gatchaman to licensing partners and announced a planned 3-D theatrical release for 2011.
In July 2009, at the Anime Expo, Imagi shared another 45-second teaser trailer as scripted by Dini, which did not reveal much of the plot, but it acted to allow the first public look at the new 3D characterizations of the main villain Galactor and the Gatchaman team both in and out of costume. The trailer also shared the film’s theme with juxtaposed text that stated, “A world in chaos, an alien evil, a lone warrior is found; Earth’s last hope, five shall rise, Gatchaman.”
On December 11, 2009, Imagi’s Hong Kong-based parent company Imagi International Holdings Limited laid off 100 employees. but in January 2010, it announced that the Gatchaman project would be delivered in 100% stereoscopic 3D. However, in order to safeguard working capital, it would be closing its United States subsidiaries. The US closure was finalized in late January with the layoff of approximately 30 staffers and the retaining of a few key personnel who would continue to work as consultants as Imagi sought $30 million from investors to continue its animation projects. In February 2010, the parent company laid off another 300 employees, calling the layoffs temporary as it sought new investors.
In July, 2010, Imagi posted a new 1-minute teaser trailer of Gatchaman on its company Web site, with a release date stating 2011 at its conclusion.
On June 21, 2011 Imagi announced in their annual report that the Gatchaman film project is now officially dead.
(source: Wikipedia, Gatchaman, Planned Films)