According to an exclusive by Deadline, the Shadow Of The Colossus movie is still in production and Josh Trank has signed with Sony Picture to direct the film, produced by Kevin Misher.
Trank, as a fan of the seminal game developed by Fumito Ueda, sought out the job. Meanwhile, he'll be separately making two superhero movies, Fantastic Four for Fox and Venom for Sony Pictures.
Let's hope he doesn't completely follow the events of the game as they're technically 16 colossi to defeat. (A montage?) Either way, there needs to be dialogue and some kind of character development, so I hope the writers focuses on the concept of sacrificing one's humanity for someone else, while limiting the number of spoken words to remain true to the title. The movie needs to be as artistically bold as the game itself to work.
[Source]