Joe Wright (Pride & Prejudice, Hanna) is making a Peter Pan origins movie, instead of the dark live-action Little Mermaid adaptation he was previously signed up to do.
Wright and Arrow producer Greg Berlanti will adapt a Peter Pan script by Jason Fuchs (Ice Age: Continental Drift), which reportedly has people at Warner Bros super excited. I hope they call it Let's Kill All the Fairy Tale Projects, Bury Them in the Ground, And Set That Ground Ablaze Until We Deliver A Little Mermaid Movie.
Note: There are already two other Peter Pan movies in play: Columbia is developing a Pan movie and Disney is adapting Peter and the Starcatchers. So that's good news for J.M. Barrie fantatics, we guess.