Back in October 2018, Capcom revealed that they were working on making a Mega Man film with 20th Century Fox. Back in August, it was revealed that it had been cancelled when Disney acquired 20th Century Fox. But now it seems that the film may actually still be in development.
A recent Capcom financial report stated that one of the aims of the publisher was “…To generate synergy with its popular games via greater global awareness and value” and that they aim to do this by “producing world-leading content, with brands such as Street Fighter and Resident Evil being made into Hollywood movies, now followed by Monster Hunter and Mega Man, which are also scheduled for live-action film adaptation”. From this statement, it seems that Capcom may still be working on a Mega Man film.
The state of the project is currently unclear with no public word of whether production has started. The last we heard about the film was that Masi Oka (Heroes, Hawaii Five-O) was a producer and that it was being written and directed by Henry Joost and Ariel Schulman (Catfish and Nerve). It is unknown if they are still attached to the film.
If the film is indeed in production, it would be one in many video game-inspired projects. As stated above, Capcom is making a Monster Hunter film, then Sony is making an Uncharted film, there’s a Mortal Kombat film in the works and even a Space Invaders film in production.
Capcom has been wanting to get this project off the ground for a while and knowing that it is still alive is a good thing. Mega Man currently has an animated TV show, Mega Man: Fully Charged for fans who are interested in seeing a screen adaptation.