In "47 Ronin," [Reeves] will play one of the swordsmen; the group and their master are revered in Japan for their revenge attack on Dec. 14, 1702.

The film will tell a stylized version of the story, mixing fantasy elements of the sort seen in "The Lord of the Rings" pics, with gritty battle scenes akin to those in films such as "Gladiator."

Morgan is writing the script and tailoring it so that Reeves -- who's half-Asian -- can fit the role as one of the swordsmen. The intention is to begin shooting next year after a director is hired.