Having announced plans to move forward with the property earlier this year, Relativity Media appears to be interested in having Breck Eisner helm Stretch Armstrong. The Hollywood Reporter has the update, indicating that The Crazies director is in talks to adapt the Hasbro propetty.
Dean Georgaris (The Manchurian Candidate, Lara Croft Tomb Raider: The Cradle of Life) is set to provide the screenplay, aiming for a slightly more serious angle than was the original intention for the character.
Still planned for a April 11, 2014 release, Stretch Armstrong is based on the iconic action hero figure first launched by Hasbro in 1976 and re-launched in the '90s.
No other talent is currently attached (though a former iteration of the project would have starred Taylor Lautner), but check back for details as they become available.