(March 28) -- Hi-ho, Silver! The Lone Ranger will ride again on the big screen, thanks to Walt Disney Pictures and producer Jerry Bruckheimer.

According to The Hollywood Reporter, "Pirates of the Carribean" writing duo Terry Rossio and Ted Elliott are in final negotiations to pen the screenplay for the live-action film.

The hero's origin story deals with a band of outlaws led by Butch Cavendish ambushing and slaughtering a group of Texas Rangers. An Indian named Tonto finds a lone survivor, whom he nurses back to health. This man becomes the mask-wearing, "Hi-ho, Silver!"-yelling Lone Ranger, a vigilante dedicated to bringing outlaws and other villainous folk to justice.

"The Lone Ranger" began as a radio show back in the 1930s, and its popularity led to a series of movies, TV shows and toys. However, the last Ranger film to grace the silver screen, 1981's "The Legend of the Lone Ranger," was such a critical and commercial debacle that the film's star, Klinton Spilsbury, never worked in Hollywood again.