Entertainment Weekly first reported that Warner Bros. was in talks to pick up Watchmen after Paramount dropped the project. IGN Filmforce on Friday said it had confirmed that the movie was now at Warner Bros., but not with Paul Greengrass at the helm.
The Hollywood Reporter has followed-up and confirmed this as well:
“The Watchmen,” the seminal DC Comics limited series created by Alan Moore and Gave Gibbons, has found a home at Warner Bros. Pictures. The project has landed at the studio with original producers Larry Gordon and Lloyd Levin — but not with screenwriter David Hayter and director Paul Greengrass, who were with the project when it was let go from Paramount in June.
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Source: The Hollywood Reporter