Netter will produce the new movie, while Jesse Ehrman and Nik Mavinkurve will oversee for the studio.
As of now, there is no director tapped to helm this project, reported Aceshowbiz.
First appearing in newspaper in 1951, "Dennis the Menace" centers on the adventure of the titular kid, who wreaks havoc on his next door neighbor, Mr Wilson.
He usually hangs out with his friends, Joey and Margaret, and is followed everywhere by his dog, Ruff. The comic strip currently runs in over 1,000 newspapers with a single panel daily and a full strip on Sundays.
The most notable one is the 1993 film written and produced by John Hughes with Walter Matthau playing Mr Wilson.
The characters were last seen in the 2007 direct-to-DVD release "A Dennis the Menace Christmas", which starred Robert Wagner as Mr Mitchell.