Plans for the movie were originally announced back in 2008. However, Sony expects to begin filming sometime this year before co-star Tom Holland shoots the next Spider-Man movie. Mark Wahlberg will also be co-staring in the film, while Rafe Judkins will be writing the film, along with Art Marcum and Matt Holloway.
The delay hasn't been attributed to anything specific but the news does come just weeks after the film lost its director, Travis Knight. It would've taken one big effort from Sony to find another director and finish the movie within the year so that could be a reasoning behind it. The March debut also showcases that the film isn't expected to be a large blockbuster but also avoids the dreaded January/February slots for movies with low expectations.