Warner Bros. Pictures has decided to let go of several films in order to focus on tentpole films like their DCEU projects, following the underperformance of "Batman v Superman: Dawn of Justice." The Hollywood live-action adaptation of "Death Note" was one of the films they let go of, but according to Variety, it now appears Netflix will swoop in to save the film.

According to the report, Netflix is currently securing a deal to distribute the film, with the potential scope of giving the project a budget within the $40-$50 million range and to begin shooting by June, with Nat Wolff still locked in to play the lead character. 

Other studios showing interest are Lionsgate and STX, although the report claims that Netflix has the higher chance of coming on top. Fans speculate that this is because the Netflix platform will allow "Death Note" to push through with an R-rating while a release via Lionsgate or STX may force the movie to tone down its level of violence and themes.

"Death Note," based on the manga by Tsugumi Ohba, tells the tale of a young law student, Light Yagami, who finds a supernatural notebook that allows him to kill anyone just by writing their name on its pages, so long as he knows their true name and face. He begins executing criminals, believing himself to be a god of a new world order.

A game of cat-and-mouse ensues when a mysterious detective, who never reveals his face or name, begins hunting down Light. Whoever is able to identify the true name and face of the other will turn out the victor.

The manga series was later adapted into a popular anime and even saw several live-action adaptations in Japan. The new Western adaptation will star Nat Wolff as Light, based on a script by Jeremy Slater. Adam Wingard is set to direct the project.