It was recently suggested that Legendary Pictures would be developing a "King Kong vs. Godzilla" film which would serve to establish their giant monster cinematic universe. The project has now been confirmed and slated for a 2020 release.

2018's "Kong: Skull Island" is suspected to draw reference to the "Godzilla" film, which will ultimately allow for the interconnected mega showdown to commence in the subsequent movie. "Godzilla 2" is also slated for release in 2018 and will most likely also set the stage for crossover.

"Audiences really responded to Godzilla," Legendary Pictures CEO Thomas Tull said in a statement. "Today, I'm excited to reveal that film was only the beginning of an epic new entertainment universe. As a lifelong fan of these characters, I've always wanted to see the ultimate showdown, and today we're pleased to be announcing that and more."

The shared cinematic universe that Legendary and Warner Bros. hope to bring to the big screen will give rise to other iconic giant creatures such as Rodan, Mothra and King Ghidorah. Films for these monsters are yet to be announced, however Legendary does currently hold the rights to them.

"Working with our partners at Legendary, we enjoyed tremendous creative and commercial success with 'Godzilla,'" Warner Bros. CEO Kevin Tsujihara added. "It's great to be able to revisit these characters and help create a franchise with so many creative possibilities for filmmakers. Fans love these big, globally iconic films and it doesn't get any bigger than this."

An insider from THR joked that King Kong would have to be scaled as big as the Empire State Building to confidently take on Godzilla. While it is expected that the creatures' sizes will be matched accordingly, there are also talks of the two eventually teaming up.

"Legendary is confident it can come up with a rationale to explain how Kong and Godzilla can do battle -- and possibly become allies," the insider stated.