DreamWorks Studios and Universal Pictures have acquired film rights to Cowboys & Aliens, a popular graphic novel from Platinum Studios. The Academy Award-winning team of Brian Grazer and Ron Howard will produce the live-action pic through their Imagine Ent. shingle, along with Platinum Studios chairman and CEO Scott Mitchell Rosenberg and Alex Kurtzman and Roberto Orci. Platinum’s Ervin Rustemagic and Rich Marincic will co-produce.

Created by Rosenberg, Cowboys & Aliens was published in 2006 by Platinum Studios and was the most ordered graphic novel of the year, according to the company. Oscar-nominated scribes Mark Fergus and Hawk Ostby (Iron Man, Children of Men) are expected to adapt the science-fiction western adventure for the screen. DreamWorks and Universal are co-developing and will co-produce the adaptation.

“This is a cool sci-fi and western mix and we couldn’t be more excited with the support we’re getting from this creative team,” says Rosenberg. “Wow! Working with Ron, Brian, and our friends at DreamWorks and Universal is a dream come true.”

‘This property captured our imagination as soon as we became aware of it,” adds Adam Goodman, president of production for DreamWorks Studios.”We kept trying to make it happen and finally all the elements have come together with thanks to Alex Kurtzman and Bob Orci, Universal, Imagine, Platinum and the creative talents who have also joined us.’

Kurtzman and Orci , who co-wrote the 2005 Michael Bay sci-fi actioner The Island and Bay’s upcoming big-screen treatment of the Transformers property, have an overall producing deal with DreamWorks Studios. Their other writing credits include Mission: Impossible III, The Legend of Zorro and next year’s Star Trek reboot, which they are also exec producing. In addition, they served as producers and writers on J.J. Abram’s hit TV series Alias.