Unlike most (if the 92% rating on Rotten Tomatoes is of any indication) I wasn't that enamored with the original 1966 film. I've seen it twice; first as a kid, and then later, a few years ago, and I had trouble remaining engaged throughout. Yeah I know, blasphemy on my part. La-di-dah! I think what I had most trouble with was getting past the special effects, which, while I'm sure were considered groundbreaking at the time, leave a lot to be desired when compared to films that came before and even after it.
So a remake/reimagining or whatever you want to call it, which has been in development for a minute, isn't anything I'm giddy about. Hopefully it'll improve on the original, and not just photocopy it.
James Cameron is producing it, while Shawn Levy is already attached to direct it; though he's reportedly now considering stepping away from the project, due to casting difficulties for what is expected to be a big-budget sci-fi movie.
The project hasn't yet been greenlit, and apparently, Levy wants an A-lister to headline the film, but 20th Century Fox is weary because a big name would mean a fat paycheck.
But despite Fox's alleged ambivalence, Levy wants Will Smith to star in the film, and has reportedly set up a meeting with the actor, which will happen in the next couple weeks to talk shop.
IF Will is interested, Fox still has to wrestle with him over salary, so this is a long way from being anything definite.
Last I checked, Will was location scouting with M. Night Shyamalan for the sci-fi project he and son Jaden Smith will be starring in together, under the direction of M. Night.