From THR:
Kevin and Dan Hageman have sold an original pitch to Warner Bros. that could very well blow up in their faces.
The Hageman brothers came up with the idea to build a feature film around the fictional ACME warehouse -- the manufacturer of anything and everything used by many of the Looney Tunes characters, most fatefully Wile E. Coyote in his quest to catch the Road Runner. The writers brought their concept to producers Dan Lin and Roy Lee, who helped develop the project further.
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Wait, wasnt Looney Tunes always WB?
I'm not sure how I feel about this. I love Looney Tunes but their last outing was only so-so. And now they also have that 3D Pepe Le Pew movie as well. I would rather it be a full 2D animated film, or something that could at least compare with Space Jam.