X-Men: First Class

Magneto is a movie now in Planned Production, which will tell the story of Xavier's first class of Mutants.

Megan Shuler Donner, producer of the first 3 X-Men movies as well as X-Men Origins: Wolverine, says "It is the first class of Xavier's school, way back when, so it's young Scott, young Jean, young Beast and that'll be really fun. I think (the plan) is to follow some of the characters into their own stories, and weave them back into the X-Men world. And hopefully First Class will become its own franchise and we can follow them as they grow up."

In a later interview she notes that she enjoys producing movies about kids and that it provides a lighter touch to the franchise.

Crew
The first draft of the screenplay is being written by Josh Schwartz, who was also asked to direct the movie but refused. Schwartz' writing credits include Gossip Girl and The O.C..