The news was broke by Variety this morning. The director of GODZILLA VS. HEDORAH, Yoshimitsu Banno, is one of the executive producers: http://www.variety.com/article/VR111801 ... id=13&cs=1
"Godzilla is one of the world's most powerful pop culture icons, and we at Legendary are thrilled to be able to create a modern epic based on this long-loved Toho franchise" "a modern epic" sounds to forebodingly like too much CGI in a rubber-suit movie time will tell, but another origin story? c'mon now. we know the character, roll with it already.
New origin story, hm. The original was so much more than just a monster movie, and the origin was an important part of that. Unless the new story has the "Frankenstein" element that the original did (man's abuses of technology come back to wreak havoc) then it's just a monster. Of course, the "meaning" was dropped immediately after the first movie in the Toho originals, at least until Hedorah rose to re-inject social issues and psychedelic go-go dancers into the mix. I think the new ones should have CGI 3D psychedelic go-go dancers.