"The Crow" remake has been planned by Relativity Media for a year already, however, the production has been delayed for so many times because of various problems along the way.

Just recently, Relativity has reportedly sold the Crow film franchise due to bankruptcy.

According to The Hollywood Reporter, "Samuel Hadida's Davis Films, Highland Film Group and Electric Shadow have acquired the rights to finance, produce and distribute The Crow Reborn, a reboot of the cult classic franchise."

With this many believed that the film will take more years before it will be materialized; however there were reports suggesting that the filming will start next year with Edward R. Pressman as the producer together with Hadida and Relativity CEO Ryan Kavanaugh as the executive producer. On the other hand, star Jason Momoa, who has previously reported to play the lead role is rumored to stay and stick around as well. This has still to be verified.

"I am thrilled to collaborate with this talented team and return The Crow franchise to its roots for a new generation of audiences to enjoy," Pressman said as reported by Comicbook.

Under Relativity, Corin Hardy supposed to be the director but as the film is now owned by other companies, it is uncertain if he will still be in the picture.

Moreover, "The film was nearing production in 2015 when it was shelved due to Relativity Media's bankruptcy filing. After the studio emerged from Chapter 11 in April, The Crow was said to be among its highest priorities. But Relativity's own reboot sputtered, and Kavanaugh put the company up for sale last month. The Crow had been pegged as one of Relativity's most valuable development properties," as per report by The Hollywood Reporter.

Other projects that Relativity can ask for bankruptcy are; Vaughn Stein's Terminal, with star Margot Robbie; Jon Avnet's Three Christs of Ypsilanti, starring Richard Gere, Walton Goggins, Julianna Margulies Peter Dinklage, and Bradley Whitford; and Lin Oeding's thriller Braven, featuring Mamoa.

Fans of the "The Crow" remake which is now called "The Crow Reborn" are hoping for the film to be released soon. The production companies however is yet to give new updates about the highly anticipated movie.