Trouble For King of the Elves?

Happy Holidays and all that jazz. I've got a nasty cold and an even nastier pile of papers to grade (pictured above), but rumors are circulating that Disney may have put the kybosh on its King of the Elves adaptation. I don't know anything more than what's in this article from Slashfilm.com, but never let it be said that I don't drop everything in a rush to post unsubstantiated rumors - even on Christmas Eve.

Disney to Produce 'King of the Elves' in 2012

Disney made waves yesterday, announcing a long list of future movie projects. Most notable is the mention of an animated, 3-D adaptation of Philip K Dick's 1953 short story "King of the Elves" due out at Christmastime 2012.

Ain't It Cool.com says:

"KING OF THE ELVES (Domestic Release Date: Christmas 2012, Disney Digital 3-D™)
Walt Disney Animation Studios
Directors: Aaron Blaise, Robert Walker
Producer: Chuck Williams Legendary storyteller Phillip [sic] K. Dick’s short story (his only experiment in the fantasy genre) becomes the basis for this fantastic and imaginative tale about an average man living in the Mississippi Delta, whose reluctant actions to help a desperate band of elves leads them to name him their new king. Joining the innocent and endangered elves as they attempt to escape from an evil and menacing troll, their unlikely new leader finds himself caught on a journey filled with unimaginable dangers and a chance to bring real meaning back to his own life."

I can remember rumors about this collaboration as far back as 2001, so it's nice to see Disney finally get serious. By my calculations, my daughter will be seven years old in 2012, and by law at that point, will be at least a staff sergeant in Mickey's 21st century army of children. Should work out well. The question is, will the new Bay Bridge be done by then?