It was going to be made by Fox and Regency and was first announced in 2005, with a possible 07 release date. It was going to be written by Franc Reyes (no, me neither, but he apparently helmed a John Leguizamo vehicle called "Empire"), who was also slated to direct. Perhaps fortunately, depending on your point of view, it never got any further than that - I'm not even sure a cast was announced. You'd probably have to ask Mr Reyes exactly why, but he still seems to be in work, at least according to his IMDb page.
If anyone has any further information, I'd love to read it.
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