It was a wild report early this week, but nothing was confirmed until now, and it seems that Capcom will try a third time, but hopefully in a more heavily based on and more input for a Street Fighter movie that will have Legendary Entertainment with the heavy work.

Obviously details are not being shared at this time but originally, The Hollywood Reporter got sources that the announcement was a done deal at least early this week.

Capcom had two movies of Street Fighter, being the first one Street Fighter: The Movie was released in 1994 under Universal Pictures umbrella and directed by Steven E. de Souza.

The movie was a more americanized take on the fighting franchise of Capcom and focused more on Guile (Jean Claude Van Damme) and had Ryu and Ken as secondary/supporting characters and late Raul Julia as M. Bison, all while the story taking cues from Street Fighter II: The World Warrior.

Despite the obvious difference from the game’s lore, the film was commercially successful, with a worldwide box office gross approximately three times its production costs, and its home video releases and television broadcasts were also profitable, with the film earning Capcom a return of ¥15.5 billion ($165 million) from the box office and home media.

Unfortunately it was not the same thing for Capcom’s second attempt in 2009 with Street Fighter: The Legend of Chun-Li.

Street Fighter: The Legend of Chun-Li served as an original story taking and focusing on Chun-Li before the events of the original Street Fighter game and had actress Kristin Kreuk as Chun-Li.

Despite the showing, the weekend was not a big competition (The Jonas Brothers 3D Concert Experience released in theaters and Madea Goes To Jail were also released that week), the movie flop by grossing only $12.8 million worldwide against its $50 million budget and not praise among Street Fighter fans.