It seems that rumors of Shazam!/Captain Marvel's proverbial demise were greatly exaggerated as writer, Bill Birch has been attached to pen the script for the presumed deceased project. That's right, the long-rumored Shazam! or Captain Marvel feature film project seems to be floating along quite nicely in spite of earlier confirmation from an insider that it was DOA. (A term I'm using not as an acronym, but rather as a metaphor for a crappy film adaptation of the same name.)
Also on board, will be be Geoff Johns, a much-favored consultant of DC comics, who will help oversee the development. As The Hollywood Reporter further explains:
"It's somewhat fitting that Birch takes on "Shazam!" as his very name echoes the name of the comic's hero, Billy Batson, a teenager who becomes Captain Marvel when he utters the magic word "Shazam!" The name is an acronym for six gods and heroes of the ancient world as well as their attributes: the wisdom of Solomon, the strength of Hercules, the stamina of Aries*, the power of Zeus, the courage of Achilles and the speed of Mercury."
It could also be pointed out that John Lennon references Captain Marvel in the lyrics to the Beatles' "The Continuing Story of Bungalow Bill." (Coincidence?!)
As a comic fan, I must confess that I don't know too much about "The Big Red Cheese," other than cornball comic appearances and memories of a really, REALLY bad show from the 70's. However, it's difficult to gauge what's going through the minds of the studio people right now. The film seemed to be scrapped due to the seemingly comical turn the script took. However, (comedic diretor) Peter Segal still remains attached to the director's chair.
It will be interesting to see whether or not DC wants to move forward with a serious (perhaps not Dark Knight serious) Captain Marvel or a mere superhero parody.
*Correction to the source, it's actually Atlas. Thank you, Wikipedia!