Ryan Reynolds
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It's official: The Green Lantern won't be shooting in Australia.

The Hollywood Reporter has confirmed that Warner Bros. is moving the production, citing "the current global economic situation, including fluctuations in currency valuation and overall costs. We have also had to reassess film projects in other countries as well."

"After working closely with our partners at the NSW Film and Television Office (Screen NSW) and examining every scenario, we have decided to move the production of 'Green Lantern.' We are extremely grateful for the assistance we have received from the NSW Government, Fox Studios and the NSW filmmaking community," the WB statement said.

Warner Bros. is currently contemplating where the production should go. Mexico and Canada are the two most likely places.

The Green Lantern, starring Ryan Reynolds, is scheduled to be released on June 17, 2011.

You know, you could tell us that and we'd believe you, but it's just a rumor about his next movie.

Working Title is employing Alan Loeb to pen the next Ryan Reynolds comedy vehicle. The project, as of yet untitled, is a "dude-in-drag romantic comedy, with Reynolds playing a jilted lover who must disguise himself as a woman and befriend his ex in order to win her back."

Well, I guess it has been a while since we've had a good cross-dressing comedy. No, I'm not counting White Chicks...

With Reynolds busy with several other high-profile projects, one has to wonder where on the totem pole this project lies.

Working Title has a first look deal with Universal.

After competing against two other high profile actors, Ryan Reynolds has won the coveted role of the title character in the upcoming Green Lantern movie.

The movie will be based off the popular DC Comic hero, which is no strange territory for Reynolds who has previously starred in Blade Trinity and most recently X-Men Origins: Wolverine.

Things are certainly looking good for Reynolds as his romantic comedy, The Proposal, continues to rake in the money and his role in the X-Men followup has landed him his own spin-off as Deadpool.

Despite the chilly reviews received by X-Men Origins: Wolverine, plans are still being made to create a Deadpool movie based around the character portrayed by Ryan Reynolds in that film.

Empire Online recently caught up with the actor, asking him about various plot points and storylines that will be featured in the comic book flick. A few excerpts from the interview:

On remaining close to the source material: "The studio's working on a script and trying to find a director. The main goal is to make sure it stays close to the source material.

On fan reaction to the film: "I'm one of them. I've always been a fan, at least for the last eight or nine years. I feel a bit of validation because I knew going into Wolverine that there's a huge fanbase for this and I don't think anyone else did."

Deadpool will open in the summer of 2010.

After just starring in the light-hearted romantic comedy, The Proposal, Ryan Reynolds is about to get a lot darker.  Reynold's next project will be the independent film, Buried.

In Buried, Reynolds will star as a civilian contractor who's kidnapped in Iraq and awakens buried in a coffin in the desert, armed only with a cell phone, a candle and a knife.

Rodrigo Cortes will be directing and production begins next month in Barcelona.