According to a report from Tracking-Board, Lionsgate is currently on the way to producing a live-action "Naruto" film which could be directed by Michael Gracey. However, the studios are still conducting negotiations, meaning this is not a done deal for the time being. 

Avi Arad, former head of Marvel Studios and producer of the former "Spider-Man" films for Sony, is a self-professed fan of the "Naruto" series and will be producing the film with his production company, Arad Productions. The film will be overseen by Geoff Shaveitz, Erik Feig, and Kelly O'Malley. 

If the negotiations push forward, "Naruto" will be Gracey's first directorial film other than "The Greatest Showman on Earth" which is still in pre-production and scheduled for a 2016 release. His previous work includes visual effects credits on "The Genie from Down Under 2" and 2005's "The Magician." 

According to the report, Gracey is also working on an adaptation of Ronald Dahl's "The Witches," which is to be produced by Guillermo del Toro and Alfonso Cuaron. 

"Naruto" is a popular Japanese manga and anime series that tells the story of the young ninja Naruto Uzumaki, who dreams of becoming a legendary Hokage or leader in order to lead and protect his home village. The series has also spawned several video games and movies, the latest being 2015's "Boruto: Naruto the Movie." 

"Naruto" won't be the only anime-based film hitting Hollywood as there are talks of adapting "Akira," "Death Note," and "Ghost in the Shell," the latter of which is set to star Scarlett Johansson as the lead character. 

However, according to a report from Screen Rant, there haven't been any anime-based movies in Hollywood that have been successful. Both "Speed Racer" and "Dragon Ball Evolution" were panned by critics and were box office failures. Live-action adaptations that have been successful, such as "Rorouni Kenshin," were produced in-house in Japan.