Updated June 13, 2016:
Wow, it's been a while since we heard about this. At Ubisoft's conference today, president Yves Guillemot brought Sony's Global Sales and Marketing head Jim Ryan on stage to basically confirm all of this information again, almost three years after the original announcement. Sony and Ubisoft will be partnering with New Regency to produce a film based on Watch Dogs.
No additional information was announced, but it's interesting to see Ubisoft reiterating this information onstage at E3. Perhaps the film's production is beginning to ramp up?
Original story from August 20, 2013:
Ubisoft is partnering with Sony to make a Watch Dogs movie. The collaboration between Ubisoft Motion Pictures, Sony Pictures Entertainment, and New Regency will be overseen by Ubisoft and The Wolf of Wall Street and Paranoia producer Alexandra Milchan, among others.
"The themes and open gameplay of 'Watch Dogs' lends itself perfectly to the big screen," Columbia Pictures president of production Hannah Minghella said in a statement. "The game has intense action and adventure, but the story focuses on information and the control of information, which we think will lead to an exciting thriller. It has tremendous potential as a motion picture and we're thrilled to have the opportunity to work closely with Ubisoft's internal creative team on the development of the project."
Ubisoft did not specify when we should expect to see the film hit the silver screen--given the typically tumultuous life of video game adaptations, it might be a while. You can always put Hackers on loop until then.