Source: Hollywood Reporter, Variety

Following in the footsteps of such comic book film bows as "Spider-Man" and "X2: X-Men United," Marvel's armored avenger IRON MAN is staking out an early May release date.

The Paramount Pictures and Marvel Entertainment film is scheduled to open May 2, 2008, the studio said Thursday.

Directed by Jon Favreau, the project marks the first motion picture to be produced by Marvel under its alliance with the studio.

It also comes as Marvel has yet to nail down financing for IRON MAN, along with "The Incredible Hulk," which also may come out in 2008.

When Marvel set up the $525 million credit facility for its 10-picture slate with Merrill Lynch in April 2005, comicbook company had yet to re-acquire rights to "The Hulk" from Universal and IRON MAN from New Line.

According to terms of the agreement, Marvel can attach new characters to the loan but must receive permission from Merrill Lynch. Marvel general counsel John Turitzin said the company expects to start talks on IRON MAN soon and hopes to secure permission in the fall, sometime before the pic is officially greenlit and starts production late this year or early 2007.