From Variety by way of New York Magazine's Vulture blog: Looks like there's going to be a Where's Waldo? movie at last. (?) Yes the picture book that asks, nay, demands children hunt for the tiny, bespectacled hero will be confined no more to mere pages. The details? Well, there aren't a lot: It looks like it's going to be made by Universal and the new Illumination entertainment, which also has an animated thing with Steve Carell and Jason Segel in the works as well as an adaptation of Ricky Gervais' Flanimals series.
Hmm… Flanimals is a picture book too. So, in short, picture books are the new Stephen King adaptations, maybe.
Look for Walter The… Joke about Walter The Farting Dog canceled. Life already made that joke for us.