User blog comment:Kaijulover1/New American Ultaman (2016)!? Starring Will Smith As Ultraman!!!!!????/@comment-26939588-20160114164959/@comment-5527544-20160114175406

This article came out, early last year 2015, some of the evidence in this blog dates to 2013. That also ignoring that Chaiyo productions, DOESN'T HAVE THE RIGHTS, to create an Ultraman Movie without Tsuburaya Prod's consent and/or input. They can only distribute copies of the Showa Ultra brothers and nothing else.

So it is highly doubtful, this movie is going to happen.