Deadline.com reports that The King of the World will produce At The Mountains Of Madness for del Toro, who will direct; Universal Pictures will distribute. The film is based on a book by H.P. Lovecraft, and anyone who has been following del Toro's career knows that the Spanish director has been trying to launch this project for years, with little luck. But now it looks like he's found the missing ingredient: having the director of the two biggest films of all time by your side to help things along...

The film, about a scientific research team's horrific encounter with a lost civilization in the mountains of the Antarctic, will actually be shot in 3D, no doubt using the high-tech camera Cameron developed for Avatar; the plan is to begin pre-production this year with an eye toward shooting next summer.

Del Toro will script with his writing partner Matthew Robbins, with whom he wrote the screenplays for Don't Be Afraid of the Dark and the newly-announced The Haunted Mansion. It was thought that del Toro may possibly direct the latter for Disney, but this development makes it clear that he's only on board as writer-producer.

All I can really say is, "I want it now!"

Source: Deadline.com