Paramount has extended its 18-month option on the film based on the 1950s Western that originally starred Richard Boone as gunslinger, Paladin, The Hollywood Reporter said Tuesday.
In the updated version, Eminem, aka Marshall Mathers, would portray a bounty hunter, the Reporter said.
Although the film will be dramatic rather than musical, the rapper will most likely contribute to the soundtrack.
Eminem impressed Hollywood with his film debut, "8 Mile," and studios have been in search of other film vehicles to capitalize on his screen appeal.
Notable deaths of 2014 [PHOTOS]
Mindy Kaling mistaken for Malala Yousafzai