Project being developed for 2005 release

Universal Pictures in negotiations with John Woo to direct “Spy Hunter” — a pic based loosely on the 1980s arcade vidgame created by Midway.

“Spy” is being produced by Chuck Gordon (“Die Hard”), and Adrian Askarieh will produce the pic along with Woo and partner Terrence Chang via their Lion Rock banner should a deal be concluded.

Marty Adelstein and Neil Moritz will exec produce.

Even before a new screenwriter has been hired, insiders say vidgame publisher Midway has plans to release a new “Spy Hunter” game that will feature Dwayne “the Rock” Johnson’s likeness as a principal character by next year.

Meetings are skedded for Thursday with Woo and U co-vice chairs Scott Stuber and Mary Parent to hash out a list of potential scripters.

Woo most recently helmed the adaptation of Philip K. Dick’s short story “Paycheck” at Paramount last year; Ben Affleck-toplined actioner grossed $53 million domestically.

“Spy” is being developed for a 2005 release.

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