UPDATE: The post mentioned below has been removed and "Teenage Mutant Ninja Turtles" writer Stephen Murphy wrote on his Blog that "This is complete nonsense and entirely untrue."
"Teenage Mutant Ninja Turtles" co-creator Kevin Eastman has confirmed the rumors that Imagi and Warner Bros. are in talks to develop a new live-action movie based on the characters. He posted the following at HeavyMetal.com:
Yes, it is true. Although the CGI film did well enough to warrent a sequel, there has been much talk between Imagi and Warners to do a better "re-invention" (newest Hollywood buzzword) of the TMNT's, in a live action film--like what was done with Batman. Back to basics, back to the origin and the intro of the Shredder, etc...there have been talks, trips to Northampton to talk to Mr Laird, and discussions with the original "first" TMNT film director Steve Barron to come back and do it right--but no official word yet...will keep you posted. Best, Kevin
The CG-animated movie TMNT, which was released in March of 2007, earned $95 million worldwide compared to its $34 million budget.