According to Monster Island News it's been revealed that Legendary Pictures is in the process of producing a relaunch of the Godzilla franchise for US theatrical release.
Absolutely nothing else is known at this time, not even whether or not they would be starting from scratch with an eentirely new concept or giving us a sequal to the abysmal film by Roland Emmerich and Dean Devlin a few years back
I find this to be very exciting news as anything the studio would do would be a vast improvement on the last American movie and I'm sure that Legendary Pictures is aware of the level of hatred Godzilla fans have for that film, so here's hoping they do it right. And by right I mean have it look like Godzilla for starters (see above) and have it be a serious movie. Tragic and a little scary.
Can't wait to get more and more news on this as it develops