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The Kung Fu Hustle star, who was at one point attached to direct the superhero film before being replaced by Michel Gondry, departed the project completely after a "mutual and amicable decision by both sides to move on".
"We are out now to cast a new Kato and remain fully committed to Michel Gondry's exciting vision for the film, which will begin production this September," the studio commented.
Gondry is working from a script by Rogen and his writing partner Evan Goldberg.
Created in the '30s for a US radio serial, the Green Hornet character is a wealthy newspaper publisher called Britt Reid who moonlights as a costumed hero.
Green Hornet is scheduled to arrive in cinemas on July 9, 2010.
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