Complex sentence: In early 2005 media reported that Akhtar was planning the remake, but rather than confirming the news, he revealed that he was writing the screenplay based on the film but would make the decision whether to proceed only after completing the script.
Split into simpler sentences: In early 2005 media reported that Akhtar was planning the remake, but he did not confirm the news. He instead revealed that he was writing the screenplay based on the film but would make the decision whether to proceed only after completing the script.