The Sun is the source on this one, and they’ve even got an amusing quote from their own (unnamed) source: "They are very keen on Brad for the role. He’ll have to bulk up though — he’s very fit but not to He-Man proportions."
"They" being production company Legendary Pictures. Mentioned as a back-up choice should Brad Pitt laugh the idea out of the room: Gerard Butler, of course.
I’ll believe it when I see it. Then again, I already saw a movie called "Masters of the Universe" and I still don’t believe that one.
Source: The Sun