In the early 1990s, he bought the rights to the Superman film franchise from Warner Bros. In his Q&A/comedy DVD, An Evening With Kevin Smith, writer/director Kevin Smith related an anecdote about working for Peters when he was hired to write a script for a new Superman movie, then called Superman Reborn, and later renamed Superman Lives. According to Smith, Peters had expressed disdain for most of Superman's iconic characteristics by demanding that Superman was never to fly or appear in his trademark costume. He also suggested Sean Penn as being ideal for the role, based on his performance as a death row inmate in Dead Man Walking saying that Penn had the eyes of a "caged animal, a fucking killer." Peters then demanded that the third act of the film include a fight between Superman and a giant spider, to be unveiled in an homage to King Kong. Peters later produced the 1999 steampunk western Wild Wild West, the finale of which features a giant mechanical spider.