"[We've] been given fairly convincing evidence to definitively suggest that David Yates is, at least, in the mix and that a Fables movie is, at the very least, in the early stages of development, so it’s not a rumor that should be quickly dismissed...However, though the project is apparently a priority over at Warner Brothers, there’s not a writer on board yet and the potential ABC mini-series based on the graphic novel series may present either a conflict or a launching point, which assumes that ABC’s television series is going ahead. That’s not information I have available, although if DC Comics and Warner Brothers are developing a film, common sense would suggest that the series is all but dead. Best I can tell, there’s been little or no movement on the series since it was announced a year and a half ago."
Bill Willingham’s award winning Fables series follows the story of many popular fairy tale characters, such as the Big Bad Wolf, Snow White, Boy Blue, Cinderella and the Frog Prince, who are chased out of their realms (dubbed the Homelands) when an evil force called the Adversary declares war. The characters, both human and animal based, find sanctuary in our world and build a community in New York.
David Yates, who has helmed four of the Harry Potter films, has recently been linked to take over directing Peter Jackson's two-part prequel The Hobbit, since Guillermo Del Toro officially stepped down. No work yet from Warner Bros whether there is validity to this new rumor; but Fables fans should at least be happy to hear the series may not be ignored for much longer.