In October 1977 Lew Grade announced he would make the film as part of a slate of movies worth $97 million, including "Love and Bullets", "Escape to Athena", and "Raise the Titanic". Most of the films Grade would finance himself but "Lone Ranger" was a co production with Wrather. Grade said the Lone Ranger would likely be played by an unknown, after a wide talent search. In October 1978 Grade said the film would be distributed by his new company, AFD.