The Hollywood Reporter is reporting that Legendary Pictures have acquired the film and television rights for the fighting video game franchise Street Fighter, with a live-action film currently in development.

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Street Fighter, created by Capcom, is one of the most popular fighting video game franchises of all time, beginning as an arcade game in 1987, then shooting in the stratosphere in 1991 with Street Fighter II being released on arcade and multiple consoles. Overall, the video game franchise has sold over 49m units worldwide, with the latest game in the franchise, Street Fighter 6, set for release this year on the 2nd June.

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Street Fighter has had a few film adaptations in the past, with the best known of course being the 1994 Universal film starring Jean-Claude Van Damme and Raul Julia. In 2009, 20th Century Fox released Street Fighter: The Legend of Chun-Li, which starred Kristin Kreuk and Neal McDonough. There have also been numerous animated adaptations of the video game franchise.

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Legendary Pictures will be working closely on Capcom on future projects related to Street Fighter.