By Ryan Parsons | Image property of respective holders.
After director Jon Favreau announced he was looking for a May, 2008 release for his comic book adaptation, Iron Man, Marvel has announced their agreement.
Iron Man First Weekend of May, 2008
According to Variety, Iron Man will be the first tentpole flick to claim a firm date in May of 2008. And, like most high anticipated films, the film will be released during the month's first weekend.
Move comes as Marvel is trying to aggressively demonstrate it's moving ahead with its internally financed film slate, despite the surprise departure of former exec Avi Arad last month.
Iron Man may not be alone in 2008. Marvel is trying to find a release window, and proper budget, for The Incredible Hulk.
Before Marvel gets too far ahead of themselves, the studio must first re-acquire the rights to The Hulk from Universal and Iron Man from New Line.
To begin their own internall financed film slate Marvel set up a $525 million credit facility with Merrill Lynch.
According to terms of the agreement, Marvel can attach new characters to the loan but must receive permission from Merrill Lynch. Marvel general counsel John Turitzin said the company expects to start talks on Iron Man soon and hopes to secure permission in the fall, sometime before the pic is officially greenlit and starts production late this year or early 2007.
As long as everything works out, expect Iron Man in theatres the first week of May, 2008.