Masters of the Universe has a new writer: Terry Rossio, who also co-wrote The Lone Ranger and the Pirates of the Caribbean movies. Additionally, G.I. Joe: Retaliation director Jon M. Chu, who was attached to the project, is now off the planned reboot/remake/revival of the He-Man mythos. (Mythos?)
At one point known as Grayskull, Masters of the Universe has had drafts done by Michael Finch and Alex Litvak (Predators) as well as Richard Wenk (The Expendables 2). It's not known how much of those scripts will be adapted by Rossio or if he'll be starting fresh on the tale of He-Man, Skeletor, and the rest of the gang from Eternia.
Via Heat Vision
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