It is indeed happening. Entertainment Weekly has reported that Seth Rogen's Green Hornet movie has the go-ahead, even down to its release date: June 25th, 2010.

Rogen is still set to star as Britt Reid, the bored newspaper publisher by day, crimefighter by night. He is also still writing the script with his partner, Evan Goldberg. But no director has yet been named, nor has Kato been cast. (If you remember, Rogen favors Stephen Chow. Sounds like he still does.)

Rogen's attachment to the project was reported a year ago, but given how many Green Hornet movies have fallen apart, I don't think anyone was holding their breath.
Were they? I mean, this was once a property attached to everyone from George Clooney to Jake Gyllenhaal. Kevin Smith spent years trying to develop it. Who knew Rogen would be the one to finally do it?

This news comes on the heels of CHUD's brief chat with Rogen, where he was saying the film still hadn't been green lit. He discussed the tone they were trying to set with the film -- it isn't going to be bumbling humor, and it will feature some serious action. Rogen and Goldberg are hoping the comedy comes from the unconventional relationship between the Hornet and Kato. Perhaps that will soothe the doubts of our readers, who were quite furious when the news broke. Have you become more reconciled to it, or are you still wishing for what could have been?