There is word from ComicBookResources (via ScreenRant) that Warner Bros. is indeed moving forward with the live-action Aquaman film. They have quotes from actor Alan Ritchson who plays the hero on Smallville and has knowledge of plans for the film. While it's not ready to go, he states it's likely it will go after Flash and Wonder Woman. It's expected both Flash and Green Lantern 2 will start shooting within the next 12 months. The scripts for both films will be handed in by Christmas. The studio is aiming to release more DC Universe films to replace the gap left by the Harry Potter franchise.
This isn't the first time the film has been brought up to be in the works. Previously THR stated that Appian Way had stepped in to work on the film's development long with Adam Strange. The production company which Leonardo DiCaprio owns fueled speculation he could possibly play the hero. While it's surprising to me that Legendary Pictures (Dark Knight Rises, Superman) isn't making the film, Appian Way is a rising production company. They've helped create some interesting films like Public Enemies and Shutter Island. They're also developing live-cation films based on Akira and Ninja Scroll for Warners.
I expect they would try to keep the film more in the fantasy realm not including the ridiculous side of the character seen in the older comics and cartoons. Likely centering on the mystical world of Atlantis which is focused in the Sword of Atlantis series. I imagine it would be a mix between John Carter of Mars, Thor and Clash of The Titans. Aquaman isn't the most popular character in the DC Universe but he does have some interesting film potential.
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