This could go either way:

Warner Bros. is launching development of a “Marvin the Martian” feature at Alcon Entertainment.

Yaaaayyy!!!!

Project will blend live action and CGI.

Ohhhhhh nooooooo!!!!!

Marvin was created by Chuck Jones and made his first appearance in a Looney Tunes cartoon in 1948.

Yaaaayyy!!!! He sure did.

“Marvin” will be aimed at the family demo along the same lines as Alcon’s “Racing Stripes” and “My Dog Skip.”

Ohhhhhh nooooooo!!!!!

Alcon announced in May that it had raised $550 million in private funding and extended its deal at Warner, with the studio agreeing to distribute 15 Alcon pics domestically over the next five years…

Yay?

including the already-released pair “P.S. I Love You” and “One Missed Call” plus “The Sisterhood of the Traveling Pants 2,” which opens Aug. 6.

Ohhhhhhhhhhhhhhhhhhh nooooooooooooooooooooooo!!!!!

[Reactions, Looney Tunes children? I'm not gonna say that a disappointment is a foregone conclusion, but I'm also not gonna hop on board a project produced by this dude.]