Placing bet on the table, Gold Circle Films has taken over rights to make "The Arcanum" from Miramax Films following the latter's decision to put the flick into turnaround, Variety has reported.
Adapted from Thomas Wheeler's debut novel of the same name, the fantasy adventure is likely to follow closely the story depicted in the original which revolves around the titular secret society. Consisting of leading occult investigators namely Arthur Conan Doyle, Harry Houdini, H.P. Lovecraft, and Marie Laveau, the group is bound to battle demons descending on New York City, including a serial killer of angels.
Names to star still remain a mystery, but it is learned that Wheeler himself has been tapped to adapt his own work into the script. Meanwhile, Gold Circle exec Paul Brooks has informed Daily Variety that the banner is going out to directors, adding that the company intends to develop a potential franchise from the project.
The original version initially was optioned by Miramax in 1999 in a preemptive deal alongside the publishing rights, with Bobby Cohen producing and Warren Zide plus Craig Perry executive producing. It is unclear yet why the company in the end concluded to let go the feature.