DC Comics announced today that its merchandising arm, DC Direct, will be producing a line of action figures inspired by the WB television series Smallville.  Smallville, which depicts Superman's formative years as the teenaged Clark Kent, has been a surprise hit, gathering critical acclaim as well as strong ratings for the WB network.  DC has already announced that it will be publishing a Smallville comic (see 'Smallville Comic in 2002') and DC Direct has also announced Smallville PVCs  (see 'DC Direct Will Do Smallville PVCs'), but action figures represent a potentially huge opportunity given the popularity of the TV series.  The three figures in the first wave will be based on the likenesses of Clark Kent (Tom Welling), Lana Lang (Kristin Kreuk), and Lex Luthor (Michael Rosenbaum) as they appear on Smallville.  The figures will be solicited in the April issue of Diamond's Previews catalog.  The action figures will not be limited to the direct market, though DC did make a specific point of announcing in the press release that the Smallville toys would be released simultaneously in the comics specialty market and 'other venues.'  This is no doubt a reference to comic-based figures produced by other companies which have often appeared in major mass market venues before they were released to pop culture retailers.  No release date has been set though judging from past DC Direct solicitations in Previews a late 2002 or early 2003 release appears likely.