On June 13, 2007, Paradox Entertainment (Sweden), holders of the rights to the Conan the Barbarian franchise, announced that the rights to make a new Conan movie have been taken back from Warner Brothers, after the movie production company failed to start production on a Conan film within the allotted time frame. Here is the official press release (in Swedish).
Just last month there was an announcement that Warner Brothers had named Rick Alexander to produce the film, and I had a glimmer of hope that the film would actually be released during its target year of 2008. With this setback, it looks like things are back to the drawing board and a new Conan movie has no momentum. The Paradox press release states that it is looking for a new licensee to produce a Conan movie.