Looks like the success of Alice in Wonderland has opened the flood gates to other classics being remade with a big budget mindset. The LA Times is reporting that Warner Bros. is keen to cash in on the success of Alice by ramping up production on two separate films based on The Wizard of Oz.
The studio is looking at two projects currently in different phases of production. The first one, title "Oz", is currently housed by New Line, the same studio behind the Twilight films. The second as yet unnamed project is a darker, more action oriented picture written by Josh Olson, who penned A History of Violence. That story is said to involve a granddaughter of Dorthy's who returns to Oz to battle evil. Todd McFarlane(Spawn) is rumored to be involved in this project as well.
Either project could be a surefire win for Warner Bros., combining a name title we all recognize with huge special effects and obvious 3-D technology. Any remake of The Wizard of Oz has blockbuster written all over it.
Also consider that Warners is about to lose there biggest and longest running franchise in Harry Potter. L. Frank Baum's Oz series contains 15 books, very few of which have ever been remade into film. Oz would be a more than suitable replacement.