An update of the 'Conan the Barbarian' franchise ('Conan' starring 'Game of Thrones' star Jason Momoa) did not go so well a few years ago, but bringing Arnold Schwarzenegger back to the fold could be exactly what the franchise needs. The teaming of actor and character has been rumored for a while now, but just how close is it to actually happening? And could we be seeing three new 'Conan' films?

It was October of last year when the news broke that 'The Legend of Conan' was moving forward at Universal Pictures, with 'Fast and Furious 6' writer Chris Morgan drafting the script. And, while we're all probably a little skeptical about the idea (not to mention vision) of Arnold in a leather codpiece at this late stage, there's no question that we're all just as intrigued to see if there's still life in the barbarian.

Schwarzenegger fansite TheArnoldFans caught up with Paradox Entertainment president Fredrik Malmberg (who owns the rights to the Conan property) and asked him the status of the project. To hear Malmberg tell it, 'Conan' is alive and very well:

 We're doing the script and it's by the whole 'Fast and the Furious' team, which is great for a power position of the studio because they're extremely successful - it was the biggest movie and if anyone knows how to build a franchise, it is that team. It's Chris Morgan and Jeffery Kirschenbaum, the head of Universal. Arnold is very excited. It's just in the phase where it takes a lot of work to get the script just right.

Malberg then assuages any fears that 'Legend of Conan' might not happen, and hints at a potential trilogy:

Oh, It's happening. We have a great story. Everyone loves it. This is a role that's perfect for him (Arnold) and he's very involved with the whole Universal team. It's the best team they have. Arnold has been very instrumental to being this together saying, 'We gotta make a good Conan!' I think if we do this right, we can do two more Conan movies right after. I think Game of Thrones also shows a huge interest in fantasy. I'm psyched about it.

Of course, Schwarzenegger is attached to a number of films, including a new 'Terminator' movie, 'Expendables 3,' and the zombie film 'Maggie' so his availability may preclude a prequel.

What do you think? Are you excited about seeing Arnold Schwarzenegger in 'The Legend of Conan'?