For some reason McG is still working in Hollywood and making movies. 20th Century Fox has picked up a large-scale sci-fi adventure film from the McG. As of right now he's only attached to produce the film, but if he doesn't have anything else better to do, who knows, maybe he'll direct it.
The script for the film will be written by David Callaham, who wrote the film version of Doom and The Expendables. Both of those films had terrible scripts so they're really isn't a lot of hope that this movie will end up being good.
As of right now there are no details on what this film is about, but judging by the talent that was put together to make the film, it's going to be a waste of money and time.