Need For Speed movie to race into theatres in 2014   After months of speculation, software publishing giant Electronic Arts has confirmed that a movie based on its popular Need For Speed video games title is in the works, EA has reportedly sold the rights for the official Need For Speed film to DreamWorks and hired director Scott Waugh.

The project is being fast-tracked at DreamWorks and is set to start production early next year for a release in 2014.The press release announces that the films will be "high-octane" and "fast-paced" and rooted in the "culture of the 70s". Not specifying which game the movie will be based on, the movie still promises to be faithful to the franchise.Since the release of the first Need For Speed game almost 20 years ago, the series has sold more than 140 million units worldwide, generating an estimated $4 billion in retail revenue. Equally, car-based action films are big business, as evidenced by the success of Universal’s Fast and Furious series or DreamWorks’ own franchise hit, Transformers.Production of the film is set to begin around early 2013. Need For Speed is also releasing revamped Most Wanted.