Lerner and Millennium's Boaz Davidson, Danny Dimbort and Trevor Short are producing.
Sean "Halloween: Resurrection" Hood has written the screenplay.
"Hercules" has been the basis of more than a dozen Italian movies, starting in 1957 with actor Steve Reeves toplining.
Syndicated TV series, "Hercules: The Legendary Journeys," starring actor Kevin Sorbo, debuted in 1995.
A "Hercules" cartoon series broadcast during the 1960's, co-starred "Newt" the centaur.