According to Variety Magazine (subscription), Time Warner (NYSE: TWX) has purchased the rights to the 15 Oz (the fantasy land, not the prison) stories of L. Frank Baum from Ted Turner. In partnership with Village Roadshow Pictures, the company's Warner Bros. division plans to bring the world back to the big screen. Among those involved in the project are Todd McFarlane of "Spawn" and screenwriter Josh Olson.

The movie industry has found a great deal of success with franchises such as Batman and Spiderman, as well as Lord of the Rings, so reaching into the past for another iconic work seems like a shrewd move.

McFarlane and Olson are looking to bring the cinematic version closer to the tone of the original series, which were darker than the Judy Garland classic. Variety quotes Olson as saying "I want this to be 'Harry Potter' dark, not 'Seven' dark.

Not as dark, I hope, as the vision behind McFarlane's 2003 McFarlane Toys Twisted Land of Oz Action Figures, a disturbing reimagining of the world featuring Dorothy in bondage and other gruesome scenes and characters.

Nonetheless, I'm counting the days, my pretty, until flying monkeys return to the screen.

Thanks to SliceofSciFi for the lead.