In a big presentation for Time Warner investors this week, Warner Bros. revealed that it is very close to giving the go-ahead on one of their hotly anticipated DC Comics franchises, The Flash.

This is potentially big news for comic book fans who have watched this production stall several times over the past few years. Most of the stalling was centered around the now-failed Justice League project, in which Adam Brody was in line to play Wally West (one of the character’s many alter egos throughout the years). The project has also been passed around between several big name writers, beginning with David Goyer (who was at one point scheduled to direct) and moving to Night at the Museum director Shawn Levy, before the latter went on to take over Real Steel.

Currently, the project is in the hands of screenwriter Dan Mazeau, whose credits are full of movies yet to be produced, including the Jonny Quest film and Doug Liman’s Untitled Moon Project. Some of the momentum this project is gaining could have something to do with Geoff Johns — one of the contemporary authors to take on The Flash — being promoted to DC Comics Chief Creative Officer in February. Johns’ other DC passion, Green Lantern, is currently shooting in Louisiana.

For DC Entertainment and Warner Bros., The Flash makes sense. Along with Green Lantern, he’s a second-tier character with an interesting back-story based in the real world. Like Green Lantern, he’s a mostly average human who accidentally receives powers. This is an easy sell for modern mainstream audiences — something Warner Bros. needs with their DC Comics franchises. As well, The Flash would be yet another step in the right direction toward a true Justice League film. According to the investors meeting, Warner Bros. is also still developing both Wonder Woman and Aquaman. From the standpoint of yours truly, it would behoove them to have a good plan — and to plan for a little bit of crossover.

Warner Bros. sets ‘Sherlock’ sequel date; ‘Flash’ close to greenlight [Heat Vision]