A recent report in Tracking-Board has claimed that currently Lionsgate is working to produce a live-action 'Naruto' movie, which may possibly be directed by Michael Gracey. However, it has been learned that the studios are still in the negotiation stage, suggesting that the deal is yet to be finalized.

Quoting the report, Christian Today states that Avi Arad, a former chief of Marvel Studios as well as the producer of previous 'Spider-Man' movies for Sony, is a self-proclaimed 'Naruto' series fan and he will be producing the upcoming movie under the banner of his production company, Arad Productions. The production of the film will be supervised by Erik Feig, Geoff Shaveitz, and Kelly O' Malley.

According to the report, provided the deal is finalized, the live-action 'Naruto' movie will be the first directorial venture of Gracey, apart from 'The Greatest Showman on Earth.' The second movie is still in pre-production stage and scheduled for release in 2016. Previous work of Gracey includes visual effects credits on 'The Genie from Down Under 2' and the 2005 film 'The Magician.'

The report further stated that currently Gracey is also working on an adaptation of Ronald Dahl's 'The Witches,' which will be produced by Guillermo del Toro and Alfonso Cuaron.

'Naruto' is a hugely popular Japanese manga and anime series narrates the story of the young ninja Naruto Uzumaki, who dreams of becoming a legendary Hokage or leader with a view to lead as well as protect his village. Earlier, the series has led to several video games and movies - the most recent one being 2015's 'Boruto: Naruto the Movie.'

It is worth mentioning here that 'Naruto' will not be the sole anime-based film in Hollywood this year, because there are reports of adapting 'Akira,' 'Death Note,' and 'Ghost in the Shell.' According to reports, Scarlett Johansson is set to play the lead character in the last mentioned movie.

Meanwhile, Screen Rant reports that there haven't been any anime-based movies in Hollywood that have been successful. In fact, both 'Speed Racer' and 'Dragon Ball Evolution' not only received poor reviews from critics, but failed at the box office too. Successful live-action adaptations like 'Rorouni Kenshin' were produced in-house in Japan.