Today DC Comics revealed the identity of "the major iconic character" whose homosexuality will be revealed as part of the on-going changes to DC’s "New 52," and it turns out that the superhero in question is Alan Scott, the original Green Lantern, who was created in 1940 by writer Bill Finger and artist Martin Nodell.  Scott’s key role in the DCU was largely eclipsed by the more popular Green Lantern Hal Jordan, who was introduced in the 1960s.  Scott is making a comeback of sorts in the Earth 2 comic written by James Robinson, the creator responsible for the first gay kiss in mainstream superhero comics, which occurred in Starman #45 in 1998.
 
While Alan Scott does qualify as the “major iconic character” that DC’s Dan Didio promised would be revealed as gay (see "DC Character to Come Out"), DC is sort of having its cake and eating it too, since Scott’s sexuality doesn’t affect that of the current "main" Green Lantern Hal Jordan (who starred in Warner Bros. big budget Green Lantern movie last summer).  Scott has been in fact relegated to Earth Two, an alternate world that is home to many of the publisher’s Golden Age heroes. 
 
While the open acknowledgement of homosexuality is something that wasn’t done in the Golden Age, it appears that in practically every other respect Alan Scott will be very similar to his old closeted 1940s self.  Robinson told DC’s The Source: "He was my favorite Golden Age character and one I’m very familiar with so I’m really excited to be updating him for a contemporary readership.  However, I think old-time readers will be pleasantly surprised by how, in some ways, I'm trying to show the 'classic' Alan Scott at the same time.  He's still the same dynamic, heroic guy he was.  He's still the head of a media empire like he was in his prior version, but of course with the form of media changing and evolving with the times.  And in many ways, his origin mirrors the original one also.  Oh, and on Earth 2 there is only one Green Lantern, so Alan's title is The Green Lantern.  Alan's sexuality is just one facet of him, along with his innate goodness, valor, charisma and skill at leadership that makes him the perfect man to wield the power of the green light in the world of Earth."
 
Scott’s sexuality will come to light in Earth 2 #2, which is shipping June 6th, and a revamped origin story will be revealed in Earth 2 #3.