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Godzilla is reportedly set to make a return to the cinema for a new feature in 2012.

According to Variety, Legendary Pictures wants to make a new film based on the monster franchise after securing rights from the Toho Co, which produced over 25 Godzilla movies.

The project will be co-financed by Warner Bros, with a director to be announced soon.

Legendary Pictures chairman and chief executive Thomas Tull said:

"Godzilla is one of the world's most powerful pop culture icons, and we at Legendary are thrilled to be able to create a modern epic based on this long-loved Toho franchise.

"Our plans are to produce the Godzilla that we, as fans, would want to see. We intend to do justice to those essential elements that have allowed this character to remain as pop culturally relevant for as long as it has."

Legendary has previously collaborated with Warner Bros on The Dark Knight, 300 and The Hangover.