Slice of SciFi reports that Warner have picked up the rights to the Oz books for future film development. Screenwriter Josh Olson and Mcfarlane toys/Spawn creator Todd Mcfarlane(Company link, Wikipedia) are hatching plans. Mcfarlane released the twisted Alice toys a few years ago (Alice in bondage, Toto as a warthog and, if I remember correctly, a steampunky Wizard) which were clearly aimed at adults but Olson is looking to be more in keeping with the mainstream idea.
Somehow, between the two a compromise will be made that will update and probably bring out the darker side of Oz which is certainly in the books (though I do have to question whether it will bring out the nascent feminism that is also there). I’m probably alone in this but I really don’t like the film adaptations that have come through so far, they are too saccharine for my tastes and I don’t like musicals.
I pray that something decent will come out of it but somehow I doubt it.