Guillermo del Toro and James Cameron in negotiations to direct/produce 'At the Mountains of Madness'

Looks like Guillermo del Toro’s long-gestating passion project At the Mountains of Madness is inching its way towards the big screen with the help of James Cameron, who’s likely to produce the project with Del Toro directing. The two multi-hypenates are currently negotiating a deal with Universal Pictures, sources say. Reps for Universal and the filmmakers declined to comment. While Del Toro has committed to develop and produce The Haunted Mansion for Disney Studios, he has yet to announce his next directing project after dropping out of The Hobbit at end of May. Del Toro was originally planning on turning to Madness, an adaptation of the H.P. Lovecraft novella set in the Antarctica, before tackling The Hobbit, but the former production could not get off the ground. Hopefully now the long-in-the-works project will finally happen.

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Comic-Con video: Guillermo del Toro talks to EW about At the Mountains of Madness, The Hobbit, and The Haunted Mansion