An interesting tidbit of news comes from the archives of Dark Horizons, concerning the possibility of a Mega Man feature film produced by Warner Bros. and directed by M. Night Shyamalan. The article dates way back to September of 2003:
"Got a kick out of the recent "news" that Shyamalan's been linked to Superman, no doubt because his name's been heard around Warner's quite a bit lately. So I figured I'd set the record straight. WB's been trying to get their mitts on the rights to the long running video game series Mega Man to turn into a feature film. Capcom, the creators, are wary of letting anyone touch the project, after a few disastrous licensing moves with the property as well as the recent "so so" reaction to other movie adaptations. The most recent move made was that the suits asked Capcom for a "wish list" of directors, and Shyamalan was the one name they came back with.
I dunno what made them think that the nuanced style of M. Night would be perfect for adapting a colorful video game character, but there you have it. I seriously doubt MNS would lower himself to doing a video game adaptation, but who knows? I suspect the big guys upstairs are at least making an attempt, in the efforts to get the movie made... for some reason, they think it will be a big deal and potential franchise".
Shayamlan directing a Mega Man film? WHAT A TWIST! In all seriousness, I can't even begin to fathom a theatrical adaption of MM. Animated yes, but live action? No sir. No matter, it's too late now...