Although the G.I. Joe: Retaliation helmer was officially attached to direct Masters of the Universe as recently as this past July, The Hollywood Reporter today brings word that Jon M. Chu is no longer set to direct the adaptation of the 1980's cartoon series. They also bring word that Terry Rossio, who recently worked on Gore Verbinski's The Lone Ranger, has signed on to rewrite the current screenplay.
Masters of the Universe follows Prince Adam, who transforms into a warrior called He-Man and becomes the last hope for a magical land called Eternia, ravaged by technology and the evil Skeletor.
Sony and Escape Artists' Todd Black, Jason Blumenthal and Steve Tisch have been developing the property, based on the popular Mattel toy line that originated in 1982 and spawned several animated series along with a 1987 live-action film.