Capcom's history with Street Fighter films is nothing short of notorious. In 1994, the company produced the campy, over-the-top action film Street Fighter, featuring Jean Claude Van Damme and the late Raul Julia. It was a critical flop, but managed to be a cult favorite by today's standards. Fifteen years later, the company tried again with the ultra-serious Street Fighter: The Legend of Chun-Li, a movie that flopped even worse – and lacked the charisma of the original release.
However, it looks like the third time may be the charm for the series. At Comic-Con this past weekend, the company announced that production has begun on Street Fighter: Assassin's Fist, a live-action martial arts adventure being directed by Joey Ansah. Principal photography began back on July 14th, based on a script by Ansah and Christian Howard. Capcom is promising that it will "redefine what audiences can expect from live-action video game adaptations."
Assassin's Fist is an expanded version of the Street Fighter Legacy short that first released in 2010. As you can see, Ansah is concentrating more on the Street Fighter core material, and less on bad character recreations.
No word yet on release, but we should have more details soon.