Liongate has hired Francis Lawrence, Peter Craig, and Nina Jacobson to adapt Homer's The Odyssey for a major-motion picture. If you don't know their names, you know their work — they're the director, screenwriter and producer of some-to-all of The Hunger Games movies, respectively.
While The AV Club worries we're in for some kind of YA adaptation of the classic of Western literature, it's worth noting that the original Deadline report says nothing to suggest this. Also, the Hunger Games movies have been really, really good, so even if there's some kind of crazy changes planned, I'd rather see their version, than, say, Brett Ratner's. If this mean we get Jennifer Lawrence as Medea, I can handle that, I think.
Please note this Liongate Odyssey movie is different from the Odyssey movie Warner Bros. announced they were making last year. We'll see which gets made first... if either.