Jon Favreau has been selected to develop and direct the big-screen adaptation of "Iron Man" for Marvel Studios. Favreau will develop the script with scribes Arthur Marcum and Matt Holloway ("Convoy") reports the trades.
In the comic, Iron Man's real identity is that of billionaire industrialist Tony Stark, who develops an armored suit that lets him fly and shoot "repulsor rays". The comic debuted in the 1960s, and Iron Man's origin involved Stark being a prisoner of the Viet Cong. The comic evolved into Stark fighting spies, both political and industrial, while also battling alcoholism.
The project originally was set up at New Line with Nick Cassavetes directing. Favreau is optimistic that he'll begin filming early next year now that his "John Carter of Mars" project at Paramount has apparently been put on hold due to the relaunch of that studios "Star Trek" franchise.