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The Pinis themselves seem happy (they've discussed the news on their site) and include the director's quote
"...the most important thing is to stress that Warner Brothers loves the property (as does the director) and the plan is to do justice to the underlying work by honoring it in the adaptation. This is going to be the film version that EQ fans around the world have been waiting and hoping and dreaming for."Don't the Pinis know that Rawson Marshall Thurber (best known for Dodgeball) also claimed to love Mysteries of Pittsburgh before he altered the most fundamental things about it? By all reports he gutted the novel and replaced it with something infinitely blander.
There's been talk of an Elfquest movie since at least the early 80s. The first edition debuted in the year of Star Wars, 1977. A movie would require an incisive and confident touch if it ever hoped to be as stirring as the comic book. It would require somebody as brilliant about transferring material from one medium to another as Peter Jackson... not someone willing to chuck out intricately woven details and idiosyncratic spirit.
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I will be crying when Hollywood f***s this up. I never needed to see a movie made unless it was going to aim for genius.