Imagi Studio Canceled Gatchaman Production

Canceled Imagi Film: Imagi began developing a film version in 2004, with producer Tom Gray saying that it would have a PG-13 or R rating. A Gatchaman film was first announced in February 2006, with an expected 2008 release.Kevin Munroe (TMNT) was scheduled to write and direct, with Lynne Southerland (co-director of Mulan 2) as producer,and an initial treatment was begun. However, in 2008 Munroe was taken off the project to direct Dylan Dog.Although early scripts were written by Paul Dini, in fall 2007 he was released from the project. In June 2007, Robert Mark Kamen was signed to write the screenplay in preparation for a 2008 release.

At the July 2008 Comic-Con, Imagi introduced a Paul Dini-scripted trailer. In August, art director Felix Ip began posting screenshots from the trailer. At the July 2009 Anime Expo, Imagi shared another 45-second, Dini-scripted trailer. Although it did not reveal much plot, it was the first public look at the 3D characterizations of the main villain Galactor and the Gatchaman team in and out of costume. The trailer also introduced the film's theme: "A world in chaos, an alien evil, a lone warrior is found; Earth's last hope, five shall rise, Gatchaman." In July 2010 Imagi posted a new one-minute trailer for Gatchaman on its company website, with a release date of 2011.

In December 2009, auditors reported growing concerns with the half-year results posted by Imagi. Although the company said that it was on course for the release of Astro Boy, according to the audit firm "It is uncertain whether the group will have the necessary financial resources to complete [the films] Gatchaman, Tusker, and Cat Tale."In January 2009 the auditing firm announced that the studio lacked funding for the release of Tusker, Cat Tale and Gatchaman, although Felix Ip reported that Gatchaman was expected to be released later in 2009. In June 2009, Imagi opened Gatchaman for licensing and announced a planned 3-D theatrical release in 2011. On December 11, 2009 Imagi's Hong Kong-based parent company, Imagi International Holdings Limited, laid off 100 employees. In January 2010 it announced that although the Gatchaman project would be delivered in 100-percent stereoscopic 3D, to safeguard working capital it would close its U.S. subsidiaries. The U.S. closure was finalized in late January, with about 30 staffers laid off and a few key personnel continuing as consultants as Imagi sought $30 million from investors for its animation projects.In February 2010 the parent company laid off another 300 employees, calling the layoffs temporary as it sought new investors. On June 21, 2011, Imagi announced in its annual report that the Gatchaman film project was cancelled.