Deadline was able to have a Q&A with Guillermo del Toro about the whole Universal/Mountains sitution. He would have to wait a while before Universal would release the project so it can be offered to other studios. This is why he's committed to shooting Pacific Rim for Legendary Pictures which he's been quietly developing on his own. Rim will start shooting in September with a summer 2013 release date.
Set in a future in which malevolent creatures threaten the earth, the planet must band together and use highly advanced technology to eradicate the growing menace. Legendary Pictures bought the pitch from Clash of The Titans writer Travis Beacham.
"I can only say I was very happy to be able to develop it under the radar in many ways. People got it confused with the Godzilla movie a few months ago but we cleared that up. I can say the scope and imagination that have been outlined in it are absolutely appealing to me. I cannot say more, it’s not the time."