Wizard of Oz Remake -- Warner Brothers

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Back in 1985, Disney made "Return to Oz" starring Fairuza Balk as Dorothy. While it wasn't a retelling of the original story, it did attempt to have the characters look like the original book's drawings and Balk was closer in age to the book's Dorothy than the MGM movie. (Shirley Temple was originally wanted to play Dorothy in the 1939 version.)

While I understand how people don't think "The Wizard of Oz" should be remade because it's such a classic, the 1939 version was also a remake. "The Wonderful Wizard of Oz" was made in 1910, "The New Wizard of Oz" was made in 1914 and there was a 1925 version starring a 19-year-old Dorothy Dwan (Dorothy Illgenfritz) in which (according to IMDB):

"A Toymaker tells a bizarre story about how the Land of Oz was ruled by Prince Kynd, but he was overthrown by Prime Minister Kruel. Dorothy learns from Aunt Em that fat, cruel Uncle Henry is not her uncle, and gives her a note due on her eighteenth birthday, which reveals she is actually Princess Dorothea of Oz, and is supposed to marry Prince Kynd. She, Uncle Henry , and two farmhands are swept to Oz by a tornado. Snowball, a black farmhand soon joins them after a lightning bolt chases him into the sky. They land in Oz, where the farmhands try to avoid capture. Semon becomes a scarecrow, Hardy briefly disguises himself as a Tin Woodman, and Snowball is given a Lion suit by the Wizard, which he uses to scare the Pumperdink guards."

So if you don't believe in remakes, there wouldn't have been the 1939 version. Having said that, I don't think a remake should be made from the same script as the 1939 version and I also don't think any remake should be a musical. If they're going to redo it, they should either go back to the source material or make a non-musical version of "Wicked", which turns the story of the Wicked Witch into an allegory on race, revolution, and politics. And even though I don't like 3D much, this is one movie that could work quite well as a 3D animated (not live-action) film, although there have also been animated versions in the past.

Also, Disney is supposedly working on a "Wizard of Oz" prequel.