You'll notice exactly zero mention of Joss Whedon, because he's not involved in any way. Yep. In a way, it's a bold move to want to relaunch a franchise and keep absolutely none of its original fanbase. (Via io9, who also found that incredibly apt Buffy pic)
LOS ANGELES, NOVEMBER 11, 2010 - Atlas Entertainment announced today it is rebooting the beloved franchise, Buffy the Vampire Slayer, with Warner Bros. Pictures. Atlas' Charles Roven and Steve Alexander will produce the feature film alongside Doug Davison and Roy Lee of Vertigo Entertainment (The Ring, How to Train Your Dragon, The Departed). Whit Anderson is writing the script.
Warner Bros. Pictures optioned the rights from creators Fran and Kaz Kuzui, and from Sandollar Productions (Sandy Gallin and Dolly Parton), for Atlas and Vertigo to produce. Buffy the Vampire Slayer first appeared as a film in 1992, subsequently becoming a cult hit and spawning the wildly popular television series starring Sarah Michelle Gellar and David Boreanaz, among many others.
"Whit approached us with an exciting idea about how to update Buffy," said Roven. "There is an active fan base eagerly awaiting this character's return to the big screen. We're thrilled to team up with Doug and Roy on a re-imagining of Buffy and the world she inhabits. Details of the film are being kept under wraps, but I can say while this is not your high school Buffy, she'll be just as witty, tough, and sexy as we all remember her to be."