Summertime Entertainment recently released the first trailer for its upcoming Oz adaptation.
Dorothy of Oz is a loose adaptation the Roger S. Baum of the same name, which is based on characters and situations from the original Oz books written by Frank L. Baum (Roger S. Baum's grandfather, and creator of the Oz series). It takes place after the Wizard of Oz story that everyone knows, and tells the tale as if the original sequels - between 14 and 40-some-odd books depending on how you count - weren't written.
Honestly, it doesn't look all that compelling. Having Patrick Stewart, Martin Short, and half a dozen other big names in there is great, but it mostly just seems juvenile. The animation style is over cartoonish, the characters seem bafoonish, and the jokes are childish.
The studio also released this synopsis of the film:
Dorothy returns to Kansas to find it devastated by the tornado that sent her to Oz. Before she can react to the destruction of her home, she is transported back to Oz, where her three friends (Scarecrow, Lion and Tin Man) have disappeared. She meets a charming man made of marshmallows who can't quite think for himself, a tiny china doll princess whose bossiness is a cover for her fragility, and a tugboat with as many personalities as he has pieces. Dorothy must help this group band together against the Jester, a wicked new villain who believes that all of Oz should be under his control.
A release date has not yet been announced for Dorothy of Oz, but I would expect the 2012 holiday season.