AceShowbiz -

Sensing potential opportunity in the stalled project of "John Carter of Mars", Walt Disney Pictures is reported by TMZ.com to hold negotiations with the estate of Edgar Rice Burroughs to secure the rights to the film, which is an adaptation of the author's book series of the same title.

The big-screen version of the sci-fi hero initially was intended to be developed under Paramount Pictures banner supported by Fox and Walden Media with Jon Favreau to direct. However, talks between the latter two studios and the estate sadly never reached a deal, leading the picture to be put into the shelf for years.

If Disney indeed comes to its goal, the giant company will likely to pick up a new film crew in bringing up the movie to the surface as the flick's previous producers Sean Daniel, Jim Jacks, and Harry Knowles as well as Favreau have been confirmed to be no longer involved in the project.