In a move that emphasizes Hollywood's creative bankruptcy, New Line Cinema has seen fit to option the film rights to Rampage, the monster-smashing arcade hit from Midway Games. Fans of the 1980's classic will no doubt remember its deep and compelling narrative, richly defined characters, and the touching journey of self-discovery each giant beast experienced. Granted, that journey was mostly comprised of punching buildings and eating people.

A Nightmare on Elm Street remake co-producer John Rickard has been announced as producer on the project, and is currently in the process of meeting with writers "to develop a story."

"The project aims to take advantage of the title and the visuals of the game," writes the Hollywood Reporter, asserting that New Line believes it can turn the video game property into "a smartly-budgeted monster movie in the vein and tone of Ghostbusters and Independence Day."

As noted, the Rampage script is still being fleshed out, so it might be a little early to say whether or not the film will ultimately end up being made.

[via Joystiq]