According to the current Chief Creative Office himself Geoff Johns DC Entertainment is developing a live action Blue Beetle show.
Here is transcript of his last couple of tweets about it:
My surrogate sister gets excited about these things :) RT @batmansgirl DC ENTERTAINMENT IS DEVELOPING A LIVE ACTION BLUE BEETLE TV SHOW! :)
If I can break it out of the vault, I'll bring it to SDCC. LIVE ACTION BLUE BEETLE!!
Blue Beetle's going to appear in most of the Brave and the Bold's this year and we're hoping to develop a live-action show. Fingers crossed!
16 minutes ago via web
BLUE BEETLE NEWS from DCE!! We have a live-action test of Jaime Reyes' scarab activating his suit. It. Is. Awesome.
This is most exciting because it seems as though DC is trying to make a brand of lesser known hero's which could be what Marvel does too.
For those who don't know much about Blue Beetle here is info from wikipedia:
The original Blue Beetle, Dan Garret, first appeared in Fox Comics' Mystery Men Comics #1 (cover-dated August 1939), with art by Charles Nicholas Wojtkowski (as Charles Nicholas) (though the Grand Comics Database tentatively credits Will Eisner as the scripter). A rookie police officer, he used special equipment, a bulletproof costume and a superstrength-inducing "2-X vitamin", and the assistance of a neighborhood pharmacist to fight crime. He starred in a comic book series, comic strip and radio serial, but like most Golden Age superheroes, he fell into obscurity in the 1950s.
In Dan Garrett's revised origin, he was an archeologist who found a magical Egyptian artifact, resembling a scarab, which he used to fight crime.
In 1966, Charlton Comics introduced Ted Kord, a student of Dan Garrett's who took on the role when Garrett died. Kord was an inventor hero, using a variety of gadgets. This Beetle received his own series in 1967, but the entire Charlton "Action Heroes" line of comic books ceased publication in 1968. With the rest of the Charlton line-up, he was sold to DC Comics in 1983 and appeared with several superhero groups, including the Justice League.
In 2006, DC introduced a new Blue Beetle, teenager Jaime Reyes, whose powers are derived from the scarab, now revealed as a piece of advanced alien technology. Editor Dan DiDio put the cancellation down to poor sales and said that Blue Beetle was "a book that we started with very high expectations, but it lost its audience along the way." On March 12, 2009, DiDio announced that the character would be brought back to print in June 2009 as a "co-feature" of the more popular Booster Gold comic.