Summit Entertainment and Beverly Hills-based RCR Media Group will co-finance the Highlander reboot, it emerged today [16].

Justin Lin, riding high on the $440m+ global smash Fast & Furious Five, will direct from a screenplay by Art Marcum and Matt Holloway.

Neal H Mortiz and Peter Davis will produce and RCR Media Group principals Rui Costa Reis and Eliad Josephson will serve as executive producers. Summit obtained the rights from Davis - Panzer Production in May 2008.

The story follows Connor MacLeod, an immortal Scottish swordsman who must confront a barbarianto become the last of his kind.

Highlander is a property that is known around the world and Summit’s re-imagination is sure to appeal to both existing and new fans of the Highlander lore,” RCR Media Group chairman Reis said.

“We plan on this being the first of many projects we work on with Summit,” RCR CEO Eliad Josephson added.

RCR Media Group recently announced an extension of their deal with Sony Pictures Worldwide Acquisitions to finance a slate of features between 2010 and 2012.