Martin Campbell has signed on to direct The Dive.
He will replace James Cameron as director, who will remain as a producer on the project alongside Jon Landau and Rae Sanchini, according to Deadline.
Writer J Michael Straczynski, who worked on the planned remake of Forbidden Planet with Cameron, is to adapt the true story of Francisco 'Pipin' Ferreras and Audrey Mestre.
The married couple broke records as freedivers before Mestre's untimely death during a world record-attempt in 2002.
Freediving involves swimming to deep depths without the aid of equipment.
Noted underwater enthusiast Cameron has been actively interested in the project, filming a tribute dive Ferreras made for his late wife from a submersible.
Campbell is best known as the director of Casino Royale. He most recently helmed the DC Comics Green Lantern adaptation.
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