AceShowbiz -

Disney may have lost the rights to "John Carter" franchise but Edgar Rice Burroughs, Inc. is planning to find a new studio to develop future installments. The estate of the character's creator confirmed in a press release that the movie rights to the "John Carter of Mars" series had reverted back to them.

"John Carter of Mars was the creative stimulus behind such movie classics as Superman, Star Wars and Avatar," said James Sullos, President of Edgar Rice Burroughs, Inc., in a press release. "Edgar Rice Burroughs was the Master of Adventure and his literary works continue to enjoy a world-wide following."

He continued, "We will be seeking a new partner to help develop new adventures on film as chronicled in the eleven Mars novels Burroughs wrote. This adventure never stops. Along with a new Tarzan film in development by Warner Bros., we hope to have John Carter of Mars become another major franchise to entertain world-wide audiences of all ages."

"John Carter", starring Taylor Kitsch as the titular character, was a box office bomb upon its 2012 release. It only made $284.1 million worldwide on a reported $250 million budget. THR asked Sullos whether the new installment would feature Kitsch once again but he said he could not comment on it.

"We have no preconceived notion at this time of how this adventure will be further advanced," he said, adding that ERB, Inc. "hopes to find a studio that believes that this massive adventure story can continue to entertain audiences of all ages around the world."