Variety is reporting that Lorenzo di Bonaventura and his Outlaw Productions have joined forces with the Tribune Co. to create a TV series based on Chester Gould's Dick Tracy comic strip, which debuted in 1931. 

Di Bonaventura plans to update Gould's yellow-hatted detective and provide a contemporary setting and feel to the classic detective, but this new effort to 'Smallvillize' Flyface's nemesis may be rendered impossible by a lawsuit filed by Warren Beatty, who claims that he still has the rights to the Dick Tracy character.  Beatty produced and starred in a stylized1990 film version of Dick Tracy that kept the character in his 1930s period and earned $100 million at the domestic box office.  The Tribune Co. claims that it has fulfilled the conditions necessary to get the Dick Tracy rights back, while Beatty claims that the Tribune Co. has failed to take the necessary steps.