According to Variety.com, The 5th TMNT film will be a live action reboot telling the origins of the characters. Source
HOLLYWOOD -- The Teenage Mutant Ninja Turtles are making their way back to the bigscreen.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.
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