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Lee originally wrote the script about a maverick martial artist shortly before his death in 1973. The movie was later released in 1978 as Circle of Iron, starring David Carradine.
However, Circle of Iron producer Paul Maslansky has now apparently secured the rights and financing for a new adaption, which is due to be drafted by his son Sasha and closely based on Lee's work.
He told Variety: "The Silent Flute will be an epic martial arts adventure film that promises to honour Bruce Lee's original artistic and philosophical conception.
"It also promises to reach new levels of action and adventure never before seen in martial arts filmmaking."
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