If you haven't heard much about the Mega Man movie coming out, it's not your fault. The movie has been through development hell for a long time now, but some serious progress has finally been made. In their first actual announcement for the movie, Masayori Oka has confirmed that the movie has begun production.
Over the past few months the project was able to acquire numerous writers and directors, which are obviously key aspects in film production. By laying down the foundation, the team can now begin moving in some kind of direction. Whether it's the right direction or the wrong direction, at least they now have enough pieces of the puzzle to start moving.
The film is in extremely early stages and nobody is talking about any kind of release time frame for now. I wouldn't expect to see this thing for quite a few years, especially seeing as how they just picked up writers for the script. Hopefully they take their time and do it well, otherwise all their hard work might end up being for nothing.