"Correction to world," Johns says, "The Sandman is AWAKE! 🙂 Psyched to be working with [Neil] on developing one of the greatest series ever!"
He then adds:
"Sandman in any form – comics to live action – doesn’t work without [Neil]"
Speculation suggests that Eric Kripke’s comments yesterday indicate that he is no longer involved with the project’s development and, while fans may be remiss about the "Supernatural" creator’s theoretical departure, having Gaiman on board is surely a creative coup for all involved.
Sandman, which launched DC Comic’s Vertigo imprint, ran for 75 issues beginning in 1989. Gaiman’s worlds-within-worlds weaved an episodic anthology, focusing on the allegorical character of Dream and his brothers and sisters, known as the Endless (Death, Desire, Despair, Delirium, Destruction and Destiny).
Confirmation and additional information should be available shortly, but, in the meantime, "Sandman" fans should start getting excited.