Deadline broke the news last night:

Universal Pictures has made a deal for The Legend Of Conan, an action film that will star Arnold Schwarzenegger in one of his signature roles as Robert E. Howard’s mythic barbarian. The deal brings Conan and Schwarzenegger back to Universal, which released the first film that launched Schwarzenegger’s movie career back in 1982. Universal has world rights on the film.

Here's a dirty little secret about that first Conan movie: It's boring as hell. Of course, it does have quite a few exquisite moments in the middle of all the dross:

But it seems like a bad idea for Schwarzenegger to try this role again. I know that Conan is one of those rare fictional characters with a life that extends from almost birth to old age, but I don't think Schwarzenegger is going to be able to play King Conan with anything more than a wink and a perfunctory "Ah am geddin too oul fa dis schitt" line before the ass-kicking begins. It could be really embarrassing to watch. What do you think?