I hear that Paramount has hired the writing team of Art Marcum and Matt Holloway for close to $1 million to reimagine a new release of the live action feature Teenage Mutant Ninja Turtles. "The studio is looking at this as its next huge franchise, like Transformers," a source just told me. Indeed, Platinum Dunes which is Michael Bay's, Andrew Form's, and Brad Fuller's company, is producing along with the original producers Scott Mednick, Galen Walker, and Marina Norman. Paramount's Adam Goodman is fast-tracking and wants a first draft by October so the studio can take it out to directors right away for a 2012 release.
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