Different drafts of the movie have been written by Steven E. de Souza (Die Hard, Die Hard 2), Mel Stewart, Mark Brewington and Michael Rowe. The movie is set to be an updated take on the character of the Phantom, adding elements of science fiction (possibly not unlike the critically acclaimed animated series "Phantom 2040". In an interview, Mel Stewart described it as "X-Men meets Tom Clancy".
The movie is produced by Baldwin Entertainment Group (led by Howard Baldwin and Karen Baldwin) and Hyde Park Entertainment (led by Ashok Amritraj). The two companies are also in the process of making a big budget, updated take on Lee Falk's other comic strip creation, Mandrake the Magician.