Variety is reporting that a new live action Teenage Mutant Ninja Turtles live action movie is being prepped for the big screen.

The Mirage Group, which owns the property, is moving forward with a live-action film focusing on the origins of the iconic crime fighters. Project, targeted for release in 2011, would mark the fifth bigscreen outing for the sewer-dwelling heroes Leonardo, Michelangelo, Donatello and Raphael as well as their master Splinter.

Scott Mednick, who produced the CGI TMNT film that came out a couple years ago is also producing this one along with Peter Laird in the executive Producer slot.

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