Godzilla and King Kong will go head-to-head in new shared universe

Following the massive success of Godzilla last year, Legendary and Warner Bros. are teaming up to create a new multiverse that will see two of their iconic monsters go head-to-head for the first time since 1962.

In an announcement reported by The Wrap, Legendary CEO Thomas Tull and Warner Bros. CEO Kevin Tsujihara confirmed that the studios will share the rights to the Godzilla and King Kong characters, which will result in a Godzilla vs King Kong.

During the announcement, Tull said that when Legendary saw how positively people responded to Godzilla, they knew they had to push forward with the new cinematic universe that focuses entirely on the various monsters that inhibit the fantastical worlds.

"As a lifelong fan of these characters, I've always wanted to see the ultimate showdown, and today we're pleased to be announcing that and more," Tull said.

Tsujihara added that Warner Bros. was thrilled with the success they saw come out of Gareth Edwards' remake, and that the new franchise allows for unlimited creative possibilities for future directors.

The site also reported that other classic monsters, like Mothra and King Ghidorah, may make featured appearances in the films.

The first film in the new franchise, Kong: Skull Island, is scheduled to be released on Mar. 10, 2017, with the sequels — Godzilla 2 and Godzilla vs King Kong — slated for 2018 and 2020.

Jordan Vogt-Roberts (The Kings of Summer) is attached to direct Skull Island, with Brie Larson, Tom Hiddleston and Samuel L. Jackson confirmed to star.