News on Todd McFarlane's Oz movie

About two years ago, Todd McFarlane(creator of Spawn)was working out a deal with Warner Bros. to do a movie based on his line of action figures, Twisted Land Of Oz. Lately, it was rumored that Dakota Fanning might be up for the role as Dorothy in it. The film was supposed to be in development with Warner and Thunder Road Pictures with Josh Olson who wrote the script for A History Of Violence to handle the screenplay. Although recently its been reported that Olsen was doing his own version for Warner titled Oz: The Return To The Emerald City where Dorothy's modern day granddaughter is sent to Oz to take on a new wicked witch. Whether this will meet up with what McFarlane had pitched with his darker version about a female arctic explorer that ends up in the magical realm of Oz is currently unknown.