Also according to The Hollywood Reporter Peter Segal is attached to direct and is producing with Michael Ewing.
The comic book series focuses on Billy Batson, a teenager who becomes the superhero known as Captain Marvel when he utters the magic word "Shazam!" The name is an acronym for six gods and heroes of the ancient world, as well as their attributes: the wisdom of Solomon, the strength of Hercules, the stamina of Aries, the power of Zeus, the courage of Achilles and the speed of Mercury.
Writers on the long-gestating project include William Goldman and Bryan Goluboff.
Segal approached August because of the writer's track record of combining big spectacle with characterization in such movies as Tim Burton's Corpse Bride, Charlie and the Chocolate Factory and Big Fish.