Movies
According to Deadline, the film's producers Mike Fleiss, Chris Briggs and Lynette Howell hope it will turn out to be "Jaws for the 3D generation".
Fleiss and Briggs also produced Hostel and Texas Chainsaw Massacre.
Ellis plans to shoot the project with 3D cameras.
Walt Conti, who worked on Deep Blue Sea and Anaconda, has been tapped to create the animatronic sharks for the movie.
More: David R. Ellis , Movies
Related Stories
Movie Reviews
'Top Cat: The Movie' reviewHanna-Barbera's classic cartoon makes a disastrous comeback on the big screen.
Movies Interviews
'Prometheus': Fassbender video interviewMichael Fassbender tells Digital Spy about his android role in Ridley Scott's Prometheus.
At the Movies
How many Snow White dwarves can you name?Nick Frost, Ray Winstone and more try to guess Snow White's classic dwarves.
Movies Galleries
'Prometheus' review: Does it live up to the hype?Digital Spy gives its verdict on Ridley Scott's much-anticipated sci-fi.
