The rights to the character had been bought in 1954 by Jack Wrather, an oil billionaire, and his wife Bonita Granville. They had made many attempts to create a Lone Ranger movie that would appeal to a modern audience, including making Tonto an equal partner and mentor to the Lone Ranger. By the late 1970s they believed that the story was ripe for retelling in an epic vein similar to Ilya and Alexander Salkind's "Superman" (1978), with the potential for sequels.