From Deadline:
Rise of the Planet of the Apes isn't the only case where a film division at 20th Century Fox is monkeying around with a primate picture. Fox Animation has set the team of Christian Magalhaes & Bob Snow to write a modern day twist on the King Kong story. It will be animated, and will tell the story from the vantage point of the ape. It's an interesting take on the material, because let's face it, Kong got a bum deal and had no way to verbally complain about it. It is based on a story by Mike Weber, who'll also produce.
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When they say animated, do they mean CGI or hand drawn? Either way as long as Peter Jackson isn't attached as director there's hope. Seriously that guy needs to hire some friggin editors