Collider has reported that there is still hope and clarifies the reasons it's not happening at this moment. It seems the script is not ready yet and Caruso is planning on making a Jack And The Beanstalk movie next. LeBeouf feels Yorick is too "Sam Witwicky" and he also wants to do something different right now.
There’s just other things going on with DJ and I wouldn’t want to make the movie with anybody else because he loves it like I do. But I don’t think Vaughn is trying to give it to anybody else. I think that it is something that’s very realistic, it’s just not in the pipe for the next year.LeBeouf claims there is still a chance of this happening. At 23 now, is LeBeouf getting too old? How many movies would they make out of this? I've said several times that this would be great as an HBO series. As much as I'd love to see this adapted, I don't know if even three movies could do the 60 issue run justice. I'm not the biggest LeBeouf fan but I think he could pull off the role. The fact that he's really into the comic would help and ensure that he'd really put himself into the role. His name attached would bring in more success at the box office. Hopefully this movie will happen someday. All we can do is hope for the best.