The first film in the “Men in Black” franchise earned $587.8 million worldwide in 1997, and the second took in $441.8 million in 2002.
Smith’s production company Overbrook Films developed The City That Sailed and brought it to Fox.
The fantastical drama follows a New York City street magician whose daughter, because of family circumstances, lives in England. In exploring a lighthouse one day, the girl discovers a room with magic candles and wishes to be reunited with her father, causing the island of Manhattan to break away and drift across the Pond. Andrew Niccol wrote the script.