There can be only one! Okay wrong franchise, but it appears that a Godzilla Vs King Kong movie is currently in the works.
In a movie move that portends a clash of giant monsters, Legendary Pictures’ Thomas Tull is moving his untitled Skull Island King Kong film to Warner Bros. This is being done to unite the property with Legendary’s other giant franchise, Godzilla. In what would be a pretty epic pairing, the Godzilla sequel that is in the works will be followed by a movie that pits the giant ape versus the giant fire breathing reptile. This is happening very quickly with moves going all the way to Japan, where Godzilla rights holder Toho is based. Legendary, which moved from Warner Bros to Universal, had developed the Skull Island film at the latter studio. It is unclear at the moment what Universal’s position will be, but the studio move is being done because it is just easier to have all the pieces under one roof. The original King Kong is in the public domain (read all about the Kong debacle and the Cooper Judgment), while Legendary got the Godzilla rights from Toho.
This is pretty cool news, however, this would not be the first time these two enormous cinematic beasts went toe-to-toe. In 1962, Toho studios' had their biggest commercial success with King Kong vs. Godzilla (you can watch their final battle in the video below).
Kong: Skull Island is still on track to be released on March 10, 2017 and Godzilla 2 will be released on Jun 8, 2018.