Rock Your Children, That Is: David Duchovny and Tea Leoni's production company has picked up Born to Rock by Jess Walter and Mark Steilen. Story follows a group of aging rockers who never quite made it, until their demo gets in the hands of a record exec who works in children's music and they become a Wiggles-type kids' band. There probably aren't any groupies, but there are single moms. "Am I right, ladies?" [HR]

DreamWorks Dreams of Sequels: Jeffrey Katzenberg dropped an atomic bomb yesterday, announcing earth-shattering news that surprised everyone in Hollywood. Are you sitting down? Okay. Um, here we go: DreamWorks is considering a Kung Fu Panda sequel, and if we're extra good this Christmas, Santa might also bring us Madagascar 3. No Antz sequel, Jeffrey? [HR, HR]

Moresco Feels Lucky: Crash co-writer Bobby Moresco is gearing up to write a movie about Charlie "Lucky" Luciano for producer and former indie record promoter Joseph Isgro, based largely on the stories of a Luciano confidante Isgro won't name. On an unrelated note, Isgro was "once accused, but cleared, of ties to the Gambino family." See, this is what happens after people watch Get Shorty. [Variety]

Lionsgate Checks Out Platt's Package: Lionsgate has acquired Duane Swierczynski's novel Severance Package for Mark Platt to produce. Assassination of a High School President's Brett Simon will direct the story of a firm that is actually a front for a covert agency. When the agency is shut down, a hapless PR manager finds out that everyone is to be terminated, in the face, with a gun. [Variety]

Screen Gems Gets an A: Screen Gems has picked up Easy A, a spec by playwright Bert V. Royal about a good-natured high-school girl who uses the school's rumor mill for personal gain by pretending to be the school slut. The actual school slut, of course, is your mama. SLAM!!!! (Vulture 1, Readers 0.) [Variety]