Well, Disney has Spider-man director Sam Rami doing
an Oz prequel that seems like it might be pretty good. James Franco and Zach Braff are set to star as the man who would become Oz and his assistant. It is a prequel to the famous movie. It will also star Mila Kunis, Michell Williams, and Rachel Weisz as three witches. At one point, Robert Downey Jr was supposedly attached to the title role. Anyway, I suspect this could be a good movie. Rami is a very solid director.
I have not heard much about the Zemeckis remake but I think it has fizzled.
It is worth noting that it is not like the Oz stories have been sacred over the years. Sure, when we mention Oz everyone thinks of the classic with Judy Garland. But, this is a story that has been tapped for films many times. It may not have been as good as it was on Broadway but The Wiz with Diana Ross and Michael Jackson isn't completely horrible. There have been many more, including several cartoons and a Muppet version of the story. There is talk that Drew Barrymore is going to direct an Oz sequel, but I have never seen that confirmed and it is not currently in production. In Hollywood, until shooting actually starts, it is safe to assume that a film ain't happening
-Jason "I do agree though-- if there is going to be an Oz remake, I'd really rather not have Zemeckis do it" Evans