It has been confirmed that a new "Zorro" movie is currently in the works and will be a fresh take on the famed masked hero played by actor Antonio Banderas, The Wrap reports. According to the publication, the film is a definite go and will be starting initial production this summer.

The news agency further revealed that the film will be titled "Z" after film producers Lantica Meida and Sobini Films gave an announcement on Thursday. Furthermore, the upcoming film, which stems from the previous two films "The Mask of Zorro" and "The Legend of Zorro," will be directed by Latino director Jonas Cuaron.

Cuaron is seen to be an important aspect of the film not just because of his impressive directing skills in "Gravity," a film he also directed which starred Sandra Bullock and George Clooney, but because of his Hispanic heritage, the news outlet further reports.

Apparently, the recent issue in Hollywood about diversity and how less it is used in films and shows became an interesting factor for the upcoming film since Cuaron is of Latin descent, Heroic Hollywood reports.

"We are very fortunate to have Jonás on this film," Lantica Media CEO Antonio Gennari said as quoted by The Wrap. "His love of cinema is evident in his work and he is very talented in his ability to tell a compelling story. We look forward to seeing where his vision will take us."

Jonas is also seen as a phenomenal director especially in his work with "Disierto" that gained an International Critics Award at the Toronto International Film Festival in 2015, the publication adds.

"When I saw 'Desierto,' I was impressed with Jonás' command of action and suspense, his great visual eye, and the strong performances he elicited from his actors," Mark Amin, the Sobini Films CEO said as quoted by the news agency.

Although according to Heroic Hollywood, details of the film are yet to be released, but the principal photography will reportedly kick off in summer of 2016 with Latinca Media to back with the film's finances, the publication adds.

Meanwhile, The Verge reports that the film has no official release date as of the moment. The publication adds that the two film series starring Banderas were released in 1998 for "The Mask of Zorro" and 2005 for "The Legend of Zorro," which makes the upcoming film the third of the series and is in the works more than a decade after the second film.