Part of the reason Fox is willing to pump a fair amount of cash into this project is the presences of Shane Black, the Lethal Weapon writer who’s turned into a a bit of a directing force with the likes of Iron Man 3 and The Nice Guys. It was his concept that got The Predator off the ground, and he’s co-writing and directing the movie.
We don’t know too much about the movie, although Black has said it will be about a man called Quinn Mackenna, which may or may not be Del Toro’s role. There may also be space for Arnie to reprise his role from the original movie. It’s currently due in cinemas in 2017.