Here's Deadline's Report on it:

"Brad Peyton, who helmed the global hit Journey 2: The Mysterious Island, has just been set by Warner Bros to rewrite and direct Lobo, the live-action film based on the DC Comics franchise. Joel Silver and Akiva Goldsman are producing.

Lobo is an alien that works as an interstellar mercenary and bounty hunter. Introduced as a hardened, rarely used hard-boiled villain in the 1980s, the character remained in limbo until his revival as an anti-hero biker in the early 1990s, when he became on of the most popular characters in the DC Comics stable. Peyton is repped by Verve and Piekoff Law."

This came as a surprise to me. Been waiting for a Lobo film to happen. Although I have a feeling it'll be PG-13... I'm okay with it. As long as it's a fun/ridiculous film. I'm all good with it.

And my pick to play Lobo in the film is Kevin Durand... He's gotta do it! :)

I may watch it, depending on how it looks, Lobo is very hit or miss with me in comics. But...

Seriously, DC? Of all the characters in your stable, you decide give Lobo a movie? Over Flash or Wonder Woman? I call it now, if this movie ever makes it to the big screen, it will flop, just like Jonah Hex.

I was never really a fan of Lobo, and I feel they could've done someone else, like Wonder Woman, the Martian, Flash or someone, but if they feel it's a good investment, I couldn't stop them. I like DC's animated movies.

@The_Tree said:

Seriously, DC? Of all the characters in your stable, you decide give Lobo a movie? Over Flash or Wonder Woman? I call it now, if this movie ever makes it to the big screen, it will flop, just like Jonah Hex.

This (even though there is a Flash movie in the works)

@The_Tree said:

I may watch it, depending on how it looks, Lobo is very hit or miss with me in comics. But...

Seriously, DC? Of all the characters in your stable, you decide give Lobo a movie? Over Flash or Wonder Woman? I call it now, if this movie ever makes it to the big screen, it will flop, just like Jonah Hex.

That last part was my reaction to this news.

Hmmm

I'd watch it if it was rated R.

Lobo is probably going to be a lower budget than the likes of The Flash & Wonder Woman. A lot lower budget.

I could also see WB thinking of not giving them their own separate films, instead introduce them in a Justice League film, then if it does well, spawn solo spin-off films from the JL movie. That's to say, if they are even thinking about doing a JL film.