Colin Farrell in Talks for Revived 'Arthur & Lancelot'

Colin Farrell Dubai International Film Festival 2010 - P 2012
<p>Colin Farrell Dubai International Film Festival 2010 - P 2012</p>   |   Andrew H. Walker/Getty Images
Warner Bros. may revive the fantasy film after shutting down in January.

Is Warner Bros. bringing Arthur & Lancelot back to life?

After scrapping the project, which was to have been directed by David Dobkin, earlier this year, Warners is in talks with Colin Farrell to potentially star in a revived version as Lancelot.

Last year, the studio cast Kit Harrington and Joel Kinnaman as the respective title characters in what was to have been a lighthearted action pic, similar in tone to Warners' successful Sherlock Holmes franchise.

PHOTOS: Colin Farrell's Five Memorable Roles

But in January the studio hit the brakes on the project, mainly due to budgetary concerns. Also factoring in was that neither of the actors had sufficient star clout to carry something of this nature.

It looked like the studio was going to focus on other King Arthur projects in its drawer (both Guy Ritchie and Bryan Singer have projects in development) but Dobkin and the producers, Charles Roven and Richard Suckle of Atlas Entertainment, kept the fires quietly burning.

Talks with Ferrell are at a very early stage but it could be the first step in the studio’s quest to rebuild Camelot.