Sony wins race for Channing Tatum's 'Pan'

Sony Pictures has won the race for the movie rights to Channing Tatum's Peter Pan movie.

According to The Hollywood Reporter, Sony is in negotiations to acquire the origin story in a deal believed to be worth $1 million. The project attracted interest from three major Hollywood studios when it was pitched last week.

The film, which Tatum will star in and also produce alongside Joe Roth, Reid Carolin and Eric Bromberg, portrays Peter Pan and his pirate nemesis Captain Hook as brothers.

Billy Ray (Shatter Glass) is writing the script for Pan.

J.M. Barrie's famed literary creation has appeared on screen in Disney's 1953 animation, Steven Spielberg's Hook and in a 2003 version starring Jeremy Sumpter and Jason Isaacs.