Speaking to MTV's Splash Page, producer Michael Uslan said the following:

"I will only say one thing — and all I will do is quote Samuel Clemens to you.  This is direct from Captain Marvel himself: 'The reports of my death have been greatly exaggerated.'"

See what he did there?  He neither confirmed nor denied any of what John August said about the project's demise.  In fact, as August pointedly said that the film "may come back in another incarnation, with another writer..." it appears now that he was right on the money.  Therefore, I would like to announce that some guy named 'Samuel Clemens' has been hired to re-work a superhero movie about a guy with a lightning bolt on his chest that shouts "Shazam!"  I hope this Clemens is the goods…

Billy Batson takes on Injun Joe here