The studio is teaming up with its family of The Hunger Games film-makers and taking on Homer’s paean to ancient Greek heroism and ingenuity.
Lionsgate sources did not elaborate whether The Odyssey would take the form of a single film or a multi-part franchise.
The latter would seem a viable prospect given that the episodic nature of Homer’s epic poem about the Greek king Odysseus’ journey home to Ithaca after the Trojan War lends itself to an action-packed fantasy spectacle.
Nor was it clear at time of writing whether co-chair of the motion picture group Patrick Wachsberger, who leads the international sales team at the markets, would officially introduce the project to buyers in Cannes.
Francis Lawrence will direct after serving in that capacity for Lionsgate on Catching Fire and the two Mockingjay instalments.
Nina Jacobson, who guided The Hunger Games franchise as lead producer, is on board The Odyssey alongside Mockingjay – Part 1 and 2 writer Peter Craig.
According to Deadline Hollywood the project is on a fast track and could begin production in early 2016.