UPDATE:Production Weekly has posted a retraction to the listing in their production guide which listed Dwayne "The Rock" Johnson as the star of McG's 20 Leagues Under the Sea: Captain Nemo. McG told SCI Fi Wire that he hasn't even spoken to Johnson.
Said McG, "I don't know where that came from. I've never spoken to Dwayne Johnson. You can be the first to report that I have no idea where that came from. I wish him every success, but I never spoke to Dwayne about this."
He added that the movie is still being offered to Will Smith.
The original story is below:
While director McG has told anyone who would listen that he'd love to have Will Smith star in his reworking of 20 Leagues Under the Sea: Captain Nemo for Disney Studios, according to the latest "issue" of Production Weekly, Dwayne "The Rock" Johnson has been cast in the undersea epic, which is listed as in active development to start shooting in Australia later this year. Presumably, Johnson, whose last two movies have been for Disney, will play Captain Nemo himself.
You can read the issue yourself in PDF format here, but the synopsis is listed as such:
"A fugitive whaler teams up with a naturalist, a mysterious woman and a captain of a futuristic submarine, to search for a lost underwater civilization that holds libraries of vast knowledge and a weapon with the power to destroy mankind. (Studio is fast-tracking the project and hopes to make the film this year.)"